The waters move on the Panama Canal. After breakdown of negotiations a preliminary agreement was reached on extra costs of 1,6 billion dollars for the expansion works.
This was announced by the number one of the Panama Canal Authority Jorge Quijano, at the end of the negotiations between the ACP itself and the consortium of companies led by Sacyr and 38% owned by the Italian company Salini Impregilo. The agreement defines the division of all the extra costs on works that exceed a total of 5 billion dollars and the complex financial and banking guarantees underlying the work.
Having averted the long and complex international arbitration, with the agreement the construction sites that employ over 10 thousand people will restart at full speed.
The work, which should open in mid-2015 to become fully operational from 2016, will have expected revenues of approximately 6 billion dollars a year.
After the announcement Salini-Impregilo flies to Piazza Affari and earns 3,20% at 16pm
