Panama Canal administrator Jorge Quijano speaks during a news conference at the Panama Canal administration building in Panama City February 5, 2014. REUTERS/Carlos Jasso
PANAMA CITY (Reuters) - The Panama Canal is ready to pull the plug on a Spanish-led consortium's contract to expand the major world shipping route unless the two sides reach a deal quickly amid a spat over massive cost overruns, its administrator said on Thursday.
Jorge Quijano, head of the Panama Canal Authority, told Reuters the canal could itself obtain financing for the $1.5 billion needed to complete the project to build a new set of locks if necessary.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
