• Costa Rica Coffee Guide
  • Costa Rica Travel Insurance

Panama Canal expansion hits $570 million snag

April 24, 2014

The official inauguration of an expansion of the Panama Canal could be delayed by six months – interrupting plans to coincide with centennial celebrations in 2014 –  Panama Canal Authority manager Alberto Alemán Zubieta said on Monday.

Delays followed the canal authority’s rejection of what it said was poor-quality cement to be used for the construction of canal locks by contractor UPC, a Spanish, Italian, Belgian and Panamanian consortium.

“Completion date is October 2014, but now it’s more likely to open by 2015,” said Ilya Espino, a canal official.

The construction group accused the Panama Canal Authority of modifying the $5.25 billion project, which they say will cost an additional $573 million.

“The [canal authority’s] complaints will cause a delay of at least one year, but we will try to finish earlier, perhaps six months late,” company project manager Bernardo González said. “That’s why we are asking for the additional 573 million dollars.”

Main goal of the canal expansion plan is to double the waterway’s annual capacity from 300 million tons of shipping to 600 million tons by using larger locks and deeper and wider channels.

Panama Canal was built by the United States between 1904 and 1914 and administered by Washington until it was handed back to Panamanian control on Dec. 31, 1999. The U.S. spent almost $375,000,000 including $12,000,000 to build facilities used to guard the canal, to finish the project.

You may be interested

Costa Rica coronavirus updates for Monday, August 10
Costa Rica
21865 views
Costa Rica
21865 views

Costa Rica coronavirus updates for Monday, August 10

Alejandro Zúñiga - August 10, 2020

Costa Rica announced nine new coronavirus-related deaths over the past day for a total of 244, according to official data…

Costa Rica has entered its Closed Phase. Here’s what’s open
Costa Rica
597 views
Costa Rica
597 views

Costa Rica has entered its Closed Phase. Here’s what’s open

Alejandro Zúñiga - August 10, 2020

Costa Rica continues changing coronavirus restrictions. In order to better identify and control coronavirus outbreaks, Costa Rica has entered a…

Costa Rica inaugurates new facilities at Chirripó National Park
Chirripó
5615 views
Chirripó
5615 views

Costa Rica inaugurates new facilities at Chirripó National Park

Alejandro Zúñiga - August 10, 2020

The Costa Rican Presidency last week inaugurated new facilities at Chirripó National Park. The improvements to base camp at Costa…