Panama Canal Authority Says It Has Won $265 Mln Arbitration Case

The GUPC consortium, which includes Spain’s Sacyr SA and Italy’s Impregilo International Infrastructures NV, no longer exists. Neither company could not be reached for comment after hours on Friday.

Initiated in 2015, the case centered on disputed cost overruns largely dealing with concrete quality. It marks the latest of three arbitration verdicts stemming from the canal’s expansion, completed four years ago and allowing the canal to handle bigger ships.

Two arbitration decisions covering separate disputes between the canal authority and GUPC remain unresolved.

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