2015 is off to a good start for Salini Impregilo's share on the Stock Exchange, which at the start of trading manages to gain more than three percentage points, to 3,108 euros.
The wave of purchases of the construction company's shares comes in the aftermath of the sentence which condemned the Panama Canal Authority to pay an initial compensation of 234 million dollars to the consortium to which the Italian group belongs (38% ) together with the Spanish Sacyr (48%) and the Belgian Jan de Nul.
“The judgment – reads a note from Salini Impregilo – was issued by the DAB (Dispute Adjudication Board), the international technical commission set up by the parties as part of the Third Set of Locks project for the expansion of the canal”.
International arbitration therefore proved the Europeans right about a year after theinitiation of the dispute. It was New Year's Eve 2014, in fact, when the Panamanian government had taken a stand against the works for the doubling of the isthmus between the Gulf of Mexico and the Pacific Ocean (a six billion dollar project), threatening to withdraw the contract to the consortium for the fault of the enormously increased costs.
