Panama Canal Lock Construction Project to Begin

Jorge de la Guardia Panama Canal Authority Executive Manager Locks Project Management Division and Contracting Officer has issued the Notice to Commence for construction of the new set of locks.

Work will begin on August 25.

The contractor is Grupo Unidos por el Canal (GUPC) a consortium consisting of Sacyr Vallehermoso S.A. Impregilo S.p.A. Jan De Nul n.v. and Constructora Urbana S.A. Together with its surety Zurich American Insurance Company the consortium submitted a $400 million performance bond and a $50 million payment bond on August 11.