The Panama Canal Administration has pointed out that it will continue to fulfill what the contract signed with Grupo Unidos por el Canal (GUPC) stipulates, in the light of the statements of Chairman of Sacyr, Manuel Manrique, as to reaching a reasonable agreement with the Canal which may put an end to the disputes.
In 2014, when GUPC paralyzed the work of expansion of the Panama Canal in claim for alleged cost overruns, which was also put the issue of reaching agreement with the entity on the negotiating table.
However, the ACP stood at fulfilling what is established in the original contract with GUPC.
Manrique said last week that there may be a mixed solution, it is all very open and there are many possibilities and noted that the extension of the route is a success story for Panama.
"The intention is that we don´t have to wait 10 years for the final settlement of claims," to which Manrique emphasized the importance of reaching a formula of understanding.
However, the administrator of the Panama Canal, Jorge Quijano, pointed out that he is not sure whether the solution of the claims will last 10 years, but that they are doing their best to settler later claims within a fair as possible time.
"These are claims that, since they have two positions, (GUPC and ACP), each has to do their best to support their case and we will do our best to defend the interests of the Canal and the country", said Mr. Quijano.
In terms of reaching an agreement with the contractor he indicated that they abide by what the contract stipulates in instances where claims can be resolved.
"They (GUPC) say that they have put in money, but they will have to prove it in court, for its part, the Canal also has also done its part and has made advanced payments for 873 million with the aim that works of the third set of locks will continue their money collection is suspended until 2018 for the process to continue," he said.
Mr. Quijano said that the amount of claims amounts to 3,569 million of which the value of 933 million have been resolved of which approximately 349 million have been awarded.
For the month of July it is expected that other claims shall be settled for the amount of $ 187 million, before arbitration.
Despite this conflict between ACP and the GUPC consortium it was announced this week that the construction of the third set of locks had finished after almost 7 years of work, a contract that has had a cost of $ 5,581 million.
For tomorrow March 31, the Consortium will present the operational work to the Authority of the Panama Canal, something that was somewhat seen as complicated, taking into account the conflicts that occurred in 2014.
On June 26th, the opening of the expansion of the Panama Canal has been planned whose ceremony will cost 535,000 dollars.
70 representatives from around the world, as well as representatives of major shipping companies have been invited to the ceremony. There are 115 reservations for transiting through the new locks, beginning June 27, of which 109 are container sh