Locks works will start on August 25

Actualizado
  • 19/08/2009 02:00
Creado
  • 19/08/2009 02:00
PANAMA. The Panamá Canal Authority (ACP) gave the order to initiate the works for the construction of the third set of locks yesterday.

PANAMA. The Panamá Canal Authority (ACP) gave the order to initiate the works for the construction of the third set of locks yesterday.

The construction is due to start on August 25 and from that date the consortium Grupo Unidos por el Canal (GUPC), which won the contract, will have 1,883 days to finish the project.

GUPC is formed by the companies Sacyr Vallehermoso S.A., Impregilo S.p.A., Jan de Nul v.n. and Constructora Urbana S.A.

The order to proceed was given after GUPC, together with its insurer Zurick American Insurance Company, deposited a performance bond for $400 million and the payment bond of $50 million as required by the ACP, last Tuesday 11 August. The ACP locks project manager, Jorge de la Guardia, said that the order to proceed is the first step in the widening of the canal project.

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