Canal expansion delay

Expansion of the Panama Canal locks to accommodate new and larger cruise ships will be delayed until at least Apr 2015 due to a funding dispute. Management for the consortium overseeing the works are seeking an additional US$1.6b on top of the original $3.2b budget due to delays associated with heavy rain and other unforeseen problems. Talks between the two parties yesterday have seen both sides propose a joint financing deal, according to Reuters, with prior threats of a suspension of work likely to now be averted. New locks being ...
The above snippet is the first part of an article sent to subscribers in Cruise Weekly's issue from 09 Jan 14

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