MADRID Feb 5 Spain's Economy Minister Luis de
Guindos said on Wednesday Spain would seek to minimise any
impact on the state budget related to guarantees given to the
Sacyr-led consortium in the Panama Canal project.
Majority state-owned insurer Cesce, set up to financially
aid international expansion of Spanish companies, provided a
guarantee for the Sacyr bid in 2009.
Although Cesce has declined to comment on how much the
guarantee was for, a source with knowledge of the operation said
it was for $200 million.
The Cesce instrument was one of the bonds that had to be put
forward to participate in the bidding and guarantees
compensation to the Panama Canal Authority if Sacyr does not
finish the project.