Americas News
ACP Says Opening of Panama Canal Expansion WILL Now Be Delayed
The Panama Canal Authority (ACP), says June is the new inauguration date of the expanded Panama Canal, following repair work on lock cracks and in order to accommodate navigation tests, local media reports.
The opening of the $5.25 billion upgraded canal was initially set for October 2014 but was put off due to work stoppages and a contractual dispute between ACP and Grupo Unidos por el Canal, S.A.(GUPC), the consortium responsible for the expansion.
The inauguration was rescheduled for April of 2016, but even though GUPC says its repair of the leaky locks – which involves the installation of steel reinforcement – will be finished by January 15, Jorge Quijano, CEO of ACP, said the opening will occur during the second quarter of next year and no later than June.
"We moved it to April due to these problems we had," he told business leaders in a statement, adding that GUPC will begin navigation tests that month.
Leaks in one of the new Cocoli Locks on the country's Pacific side were detected in late August, but this did not prevent ACP from initially stating that the completion date would remain as April 2016.
Earlier this month Ship & Bunker reported that comments made by GUPC had added to the uncertainty over the intended April 2016 opening.
