Share on StockTwits
 

The companies working to widen the Panama Canal and the waterway’s administrator each made new proposals Friday, aimed at reviving the multibillion dollar project, after talks broke down this week amid a cost spat and work ground to a halt. Grupo Unidos Por El Canal said it was pushing for a settlement with the Panama Canal Authority to resume the work, which would double the capacity of the century-old waterway. The widened canal would allow bigger ships to ferry cargo such as grains, chemical products and vehicles between the Atlantic and the Pacific oceans. The consortium said its proposal took into account the concerns of the canal authority “while providing the funding necessary to finish the third set of locks.”

“Panama Canal, Consortium Make New Proposals To Rescue Expansion” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.