Deal reached to resume Panama Canal expansion

(COLON CITY, Panama) — Work on the expansion of the Panama Canal was set to resume Thursday after a tentative settlement in a dispute over $1.6 billion in cost overruns, The New York Times reported. The dispute began Jan. 1 when the construction consortium for the project said it would halt work unless the Panama Canal Authority agreed to split the cost of the overruns. The authority accused the consortium of violating its contractual obligations.

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By Professional Mariner Staff