Financing for the widening of the Canal will be ready in December
Panama Canal Authority (ACP) has proposed having ready all financing necessary for the completion of the construction of the third set of locks by the end of the year.
Monday, September 1, 2008
They are in negotiations with the Inter-American Development Bank, the European Investment Bank and the Japanese Bank for International Cooperation, amongst others.
The Panama Canal Authority (ACP) completed a contract yesterday to finance the expansion of the Canal.
Ismael Nolasco, general manager of the Chamber, reported that the group is negotiating financing as a alternative fund for the reactivation of the sector.
The Italian company Cimolai will manufacture the gates for the new Panama Canal locks.
The construction consortium has rejected the proposed solutions one by one, as they know that being replaced would be more expensive for the ACP than to acquiesce to its demands.
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