February 5, 2014 / 3:46 PM / in 5 years

Panama Canal says deal with consortium still possible but window closing

PANAMA CITY (Reuters) - The Panama Canal said on Wednesday a breakdown in talks with a Spanish-led consortium over massive cost overruns did not mean a deal between the two to keep work going was impossible, but said the window of opportunity was closing “minute by minute”.

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.

He said the consortium had halted work on the project.

Reporting by Lomi Kriel; Editing by Simon Gardner

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