{"id":15422,"date":"2016-01-05T14:08:44","date_gmt":"2016-01-05T19:08:44","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=15422"},"modified":"2016-01-05T14:08:44","modified_gmt":"2016-01-05T19:08:44","slug":"panama-canal-expansion-to-be-complete-by-may-panamas-president-juan-carlos-varela-says","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-canal-expansion-to-be-complete-by-may-panamas-president-juan-carlos-varela-says\/","title":{"rendered":"Panama Canal Expansion To Be Complete By May, Panama\u2019s President Juan Carlos Varela Says"},"content":{"rendered":"

\"inside<\/a><\/p>\n

International Business Times carried this article on the canal opening date.<\/p>\n

The long-delayed expansion of the Panama Canal is now expected to be finished\u00a0by May, instead of April as was previously announced,\u00a0Panamanian President Juan Carlos Varela said<\/a> Saturday. Varela made the announcement in an address to the Central American country.<\/p>\n

In the speech, Varela urged the Spanish-led consortium behind the expansion, Grupo Unidos por el Canal de Panama, to focus on completing the project and to leave legal disputes to the \u201ccompetent authorities,\u201d according<\/a> to Agence France-Presse. That plea came after an adjudication board ordered the state-run Panama Canal Authority to award the consortium $17 million for budget overruns and extra labor costs.<\/p>\n

\u201cI am calling on the contractors for the expansion project to hold dialogue with the Panama Canal Authority, to allow work to be completed, to leave legal disputes in the hands of the competent authorities and to avoid mediatized differences that in no way help the image of the contractors, the Canal Authority and the Republic of Panama, AFP quoted Varela as saying.<\/p>\n

Already behind schedule, the project would enable nearly tripling<\/a> the size of the ships that could pass through the waterway\u2019s existing locks. Work started in 2007 and was expected to be finished by 2014, the centennial<\/a> of the Panama Canal. The deadline was subsequently pushed back to April 2016, although Varela\u2019s recent comments indicate builders are unlikely to finish the project by then.<\/p>\n

The original cost was projected at $5.25 billion, although construction has exceeded that figure.<\/p>\n

Jorge Quijano, the CEO of the Panama Canal Authority, said last month the project was 96 percent<\/a> complete. \u201cAn expansion of the Panama Canal has never been done, and we should all feel very good about where we are today,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

International Business Times carried this article on the canal opening date. 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