Currently, the Expansion Program has an overall completion rate of 72%
The Panama Canal Authority has issued an advisory to reaffirm its commitment to the international community and its customers to successfully complete the Expansion Program, thereby fulfilling its objective in offering a new era of opportunitites to world maritime commerce.
To date, the Expansion Program has an overall completion rate of 72% and the new locks project, which is one component of the Expansion Program, is 65% complete. The project is expected to be open to commercial transits by mid-2015.
In recent statements to the press, the contractor of the new locks,GUPCSA, has expressed its intention to negotiate outside the terms of the contract, demanding additional funds, due to alleged cost overruns.
The ACP trusts that the contractor will comply with the terms and conditions agreed upon and that they file any claims through the three-step process explicitly established within the contract. The ACP maintains the position that GUPCSA honors the contract that was agreed upon.
Source:ACP
Also view video Panama Canal Expansion Program Update (December 2013)
