Panama submits proposal to restart canal locks project

© Khunaspix Dreamstime.

In a new twist to a sorry saga, the Panama Canal Authority has offered a compromise in an attempt to restart work at the dispute-hit canal project. A new proposal calls for both the authority and the building consortium to contribute funds to allow at least the lock project to finish. The consortium warned in December that it would down tools if it did not receive $1.6bn to cover cost over-runs.