February 5, 2014 / 3:29 PM / in 5 years

Panama Canal says will finish expansion with or without consortium by 2015

PANAMA CITY (Reuters) - The Panama Canal expansion project will be completed in 2015 with or without a Spanish-led consortium disputing massive cost overruns, the major global waterway’s administrator said on Wednesday, as most work at the site ground to a halt.

Panama Canal Authority head Jorge Quijano said the canal had had general talks with other companies about work still pending on the expansion, but was still open to talks with the consortium led by Spain’s Sacyr.

The consortium said earlier in a statement the canal authority had broken off talks on who will foot the bill to complete the ambitious multi-billion dollar project.

Reporting by Lomi Kriel; Editing by Simon Gardner

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