GUPC Ready to Resume the Works in Anticipation of Agreement on Funding of Panama Canal Expansion Project

Panama, 20 February 2014 Grupo Unidos por el Canal (GUPC), the consortium of leadin international construction firms, is ready to recommence !or"s on the #hird $et of %oc"s Pro&ect on the si nin of an 'oU !ith Panama Canal (uthority) #he parties are en a ed in intense discussions and made pro ress *ednesday on "ey issues that !ould allo! fundin , resumption of !or"s and payments of subcontractors and !or"ers for the #hird $et of %oc"s Pro&ect) $ince the e+piry of a ,e otiation Protocol interrupted the tal"s and the !or"s early this month, the parties ha-e e+chan ed -arious proposals) GUPC reached an a reement in principle !ith (CP on #uesday of last !ee") #he dialo ue bet!een the parties has been on oin and GUPC continued to ad-ance comments and proposals almost daily, leadin to the latest a reement on *ednesday) GUPC continue ne otiations for a comprehensi-e a reement that follo!s the applicable contract and la!s, and pro-ides fundin aimed at completion of the pro&ect)