Panama Canal Authority officials maintain work on the expansion could meet the October 2014 deadline. The US$5.3 billion expansion is about six months behind schedule due to problems with the concrete supplier, Break Bulk reports.
"In the next few months we will be able to say with more certainty when the work will be completed," Alberto Aleman, who heads the Panama Canal Authority, Friday told reporters at the Summit of the Americas in Cartagena, Colombia. "We will know whether we will complete at the stipulated time or not."
Delays could cost the consortium of contractors up to US$54 million, while early completion would win the group a US$50 million bonus.
Any holdup would be only a matter of months, Aleman said.
"In the next few months we will be able to say with more certainty when the work will be completed," Alberto Aleman, who heads the Panama Canal Authority, Friday told reporters at the Summit of the Americas in Cartagena, Colombia. "We will know whether we will complete at the stipulated time or not."
Delays could cost the consortium of contractors up to US$54 million, while early completion would win the group a US$50 million bonus.
Any holdup would be only a matter of months, Aleman said.