Panama Canal must pay $35 million to GUPC

arbitration court Miami (USA) recognized Group United by the Channel (GUPC) the right to receive 35 million dollars more than Panama Canal Authority (ACP) for the operating costs of the interoceanic highway expansion project.

Spanish construction company Sacyr owns 41.6% of that consortium, so it would 14.56 million dollars.

As reported by this company today, the ICC Court of Arbitration issued a judgment related to the arbitration on “Gateways and labor costs”.

It was filed by the GUPC due to a conflict with the ACP over the cost overrun of the third set of locks construction project Panama Canal.

The arbitral tribunal unanimously held that GUPC was entitled to receive an additional $35 million in labor claims on top of what was previously granted in the award Dispute Resolution Board (DAB) or Dispute Resolution Committee.

But the ICC court only partially upheld GUPC’s claim, as it rejected, although in this case not unanimously, the consortium’s request to redesign the doors it had to make to fit the project.

The GUPC consortium, consisting of Sacyr, the Italian Impregilo, the Belgian Jan de Nul and the Panamanian CUSA, received a contract in 2009 for the design and construction of new canal locks worth 3.118 million dollarsbut the final cost was higher.

GUPC delivered the canal extension in 2016, and was in charge of its maintenance for three years.

In February 2022, the consortium received “Certificate of Performance” by the ACP and all the guarantees given so far by the GUPC have been returned, according to Sacyr.