PANAMA CITY (Reuters) - The Panama Canal Authority on Wednesday rejected as "impossible" a proposal by Italian builder Salini Impregilo that would make the authority pay an additional $1 billion (607 million pounds) to keep work on an expansion project going, and said it has a contingency plan ready.
Jorge Quijano, the canal's administrator, said the authority's plan envisaged bringing in a third party to finish the expansion project if no deal is reached with the Spanish-led consortium carrying out the work.
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