Million for the Panama Canal in the hands of the insurer

This Wednesday a principle of agreement between the two parties was reached and which could relaunch the works of the canal that links the Atlantic Ocean to the Pacific. The solution is by injecting 100 million dollars (73 million euros) for each of the parties, but is, however, dependent on a third party, the insurer of the work, which will have access to transform the signed guarantee on the success of the venture â€" 400 million dollars (293 million euros)-a loan for the same, IEbecome one of the investors.

"The injection of 400 million dollars and important for the solution. Without that to co-finance the project from now on, the agreements reached between the two sides possibly fall on deaf ears, "said the administrator of the Panama Canal, adding:" we still have some unresolved issues and we are working in that direction. "

In ultimatum, Jorge Quijano also said: "patience has its limits, right? In fact, for us, this has to be solved within a week. "

The works of Panama Canal enlargement were laid down over, by contract, in October this year. A few months ago, however, the United Group by channel announced the postponement of the end of work for June 2015.

The project was initially approved to a value of 3118 million dollars (2289 million euros). The Panama Canal Authority revealed already have 2831 paid millions of dollars (2079 million) to the Group United by Channel, including 784 million dollars (575 million euros) in reimbursable advances and at least 160 million extra costs (117 million euros).

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