Spain's Sacyr sees progress in talks with Panama Canal

Visitors look at a cargo ship at the viewpoint of Pedro Miguel lock on the pacific side of the Panama Canal in Panama City January 8, 2014. REUTERS/Carlos Jasso

MEXICO CITY (Reuters) - Sacyr, the Spanish building company leading a consortium to expand the Panama Canal, said on Friday it was making progress in talks with the waterway's operator over financing to avoid a damaging work stoppage on the multi-billion dollar project.

Visiting Panama, Sacyr Chairman Manuel Manrique played down an acrimonious spat over cost overruns, in which the group demanded more money from the canal administrator to continue work on a third set of locks for the canal.