Salini Impregilo down on the Stock Exchange: clash over the Panama Canal and fears of a halt in the works

Salini Impregilo sells 1,56% on the Stock Exchange. The security pays for the possible halt to the Panama Canal expansion works by the builders due to excess costs of 1,6 billion dollars against a total contract worth 3,1 billion. In addition to the Italian Salini Impregilo, the consortium of builders also includes the Spanish Sacyr, the Belgian Jan De Nul and the Panamanian Constructora Urbana. According to what was stated by a press release from the builders on the basis of what was established in the contract, the excess costs should be borne by the PCA (Panama Canal Authority). For the builders, in fact, these would be costs due to unforeseeable events that occurred during construction and the PCA would not have provided the consortium with correct information useful for carrying out the project. However, the latter has rejected all requests and is asking for compliance with the contract, indicating that otherwise it will trigger "contract mechanisms that will allow the completion of the works". the PCA has another 21 days to reply to the requests and during this time the work will continue.