españolCanal Expansion: Salino Impregilo SuesMonday, August 10, 2015 The Italian company Salino Impregilo, as an investor and not as member of the construction consortium, is claiming the Panamanian government for a $2.2 billion payment for alleged loss of ROI and compensatory damages. At a time when the third set of locks is 91% complete, the Italian company Salino Impregilo is arguing that "... as a result of the alleged violations (agreement on the Promotion and Protection of Investments signed in 2009 between the two countries) the company suffered in their role as "Investor" - additional costs in 2000 estimated 2.2 billion dollars. Canal Expansion: Agreement to Continue Comes Into ForceFriday, March 21, 2014 Wiith the signature this week from the insurer Zurich and Constructora Urbana S.A. (CUSA), a member of GUPC, the agreement announced on February 27 becomes official. From a statement by the Panama Canal Authority (ACP): Panama Inaugurates Canal Expansion WorksThursday, July 1, 2010 Silvio Berlusconi and Ricardo Martinelli inagurated the start of the excavation works at the Atlantic area of the Panama Canal Expansion project. Italy’s Prime Minister Silvio Berlusconi stated he was honored to be present at this event. Italian Corporation Impregilo is one of the companies responsible for the excavation phase, as port of a consortium that also includes Spanish company Sacyr. Canal Expansion: The Return of DisagreementsWednesday, February 19, 2014 The Canal Authority has reported that the preliminary agreements reached days ago have failed to materialize. The ACP considered this week "critical" in making a decision whether to restart the project restarting as soon as possible. Canal Expansion: Construction Company Confirms StoppageFriday, February 7, 2014 Grupo Unidos por el Canal has announced the suspension of works, with suppliers and workers appearing as the first victims. There are about three hundred subcontractors and suppliers to the construction consortium GUPC and about 3000 workers, the first to be directly affected by the stoppage of work on the expansion of the Canal, as the company declares insolvency after being unable to pay debts and wages. Canal Expansion: Date of Stoppage ConfirmedFriday, January 17, 2014 The construction consortium has reaffirmed its ultimatum to stop the works if there is no agreement with the Panama Canal Authority. An article in Prensa.com reports that "Grupo Unidos por el Canal (GUPC), the company under contract for building the third set of locks, is upholding its ultimatum given to the Canal Administration to suspend the most important works on the expansion project, from next Monday. " Panama Metro Project Raises InterestWednesday, July 22, 2009 "Grupo Unidos por el Canal", the consortium in charge of building the third set of locks at the Panama Canal, would tender for the metro. The consortium, comprising Spain's Sacyr, Italy's Impregilo, Belgium's Jan de Nul and Panama's "Constructora Urbana", would present a proposal in the next months, according to an article in Laestrella.com.pa. Canal Expansion: Between a Rock and a Hard PlaceThursday, January 23, 2014 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. EDITORIAL Canal Expansion: Work Continues at 30% CapacityTuesday, January 21, 2014 The construction consortium has not carried out its threat to stop construction work at the end of the prescribed period, while Canal Administration prepares to take on the project. And on Monday there were revelations of another proposal by consortium Grupo Unidos por el Canal (GUPC) for the continuation of the work, which was that the parties in conflict co-finance the so-called contingency costs, while they wait for a decision from the arbitration proceedings established in the contract, over who should pay. Canal Expansion: Negotiations Break DownWednesday, February 5, 2014 The construction consortium is insisting that the Panama Canal Authority cofinance the $1.6 billion cost overrun while they wait for a decision from the arbitration process over who should pay. Despite the optimism expressed by President Martinelli himself over the latest timeframe to be agreed, negotiations between the consortium Grupo Unidos por el Canal (GUPC) and the Panama Canal Authority (ACP), have been called off, even though both sides have said they will continue to seek solutions to the problem. Canal Expansion: Works HaltedThursday, February 6, 2014 The Panama Canal Authority has reported that the consortium GUPC has ceased trading and it is making preparations to be able to carry on the project under its own management. The main challenge now facing the Canal Authority (ACP), is "not to make any false move that could cause the loss of the performance bond of $400 million, deposited with the insurer Zurich American," according to an article in Prensa.com. Argos to Supply $65 million of Cement for Panama CanalWednesday, July 7, 2010 The Colombian company Argos Cement has signed a contract to provide cement and other products to support the canal expansion. According to information provided by Argos, the cement will be produced at the company’s Panama site, complemented as necessary by additional volume from the plant Argos has in Cartagena, Colombia. Offers for Set of Locks will be Revealed July 8thFriday, July 3, 2009 The Canal Authority will open the envelopes containing the economic proposals from the three qualified consortiums on July 8th. All at the same time, the technical evaluations from the participating consortiums will be revealed. Canal Excavation Contract for $267.7 MillionWednesday, December 23, 2009 Such is the amount proposed by the lowest-priced bid, by consortium Fomento de Construcciones y Contrata (FCC), Mexico's ICA and MECO. Other companies bidding for the contract include Brazil's Odebrecth, Belgium's Jan de Nul, and the consortium Impregilo, Sacyr and Cusa (ISC). Canal Expansion: Deal Signed For Completion of WorksFriday, March 14, 2014 The Canal Authority and contractors from the Sacyr consortium, Impregilo and Jan de Nul signed the agreement reached to resume the works. The Board of Directors of the Panama Canal Authority have authorized the signing of a contract with the consortium Grupo Unidos por el Canal, as agreed between the parties on 27 February. |
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Saturday, May 21, 2022 - last update: 5:24 pm
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