Temas Especiales

16 de Jan de 2021

Nacional

Zurich provides surety bond

The expansion will help facilitate trade between the Asia Pacific region and the Atlantic Ocean region by cutting transit times and costs.

The expansion will help facilitate trade between the Asia Pacific region and the Atlantic Ocean region by cutting transit times and costs.

The multinational consortium of contractors Grupos Unidos por el Canal, formed by– Sacyr Vallehermoso (Spain), Impregilo (Italy), Jan de Nul (Belgium) and Constructora Urbana (Panama) – is charged with building three locks parallel to the older, existing locks, to allow for today’s larger ships.

The new locks will have a length of 1,400 feet, a width of 180 feet and a depth of 60 feet, as compared to the old locks which were 965 foot length, 110 foot wide and 42 foot deep.

The project is scheduled for completion in 2014, to coincide with the 100th anniversary of the Canal’s opening.

According to the daily La Prensa Sacyr Vallehermoso is confronting financial difficulties with debts of over $16 billion.

Sacyr said that currently it is negotiating its debt with different financial institution and it does not perceive any future problems.

The Panama Canal Authority ACP said that it is interested in the financial situation of Grupos Unidos por el Canal, but it is willing to proceed with the contract signing and give the order to proceed with the design and construction of the third set of locks.

The surety bond was one of the requirements of ACP.