The Panama Canal Authority, known as the ACP, will challenge an arbitrator’s finding that it must pay $233 million to the consortium at work on the expansion of the inter-oceanic waterway, a senior administrator told Efe Thursday.
The Dispute Adjudication Board, the second level of arbitration established to solve contractual disputes between the ACP and the GUPC consortium, ruled that GUPC was right in claiming that at the start of the work the consortium was unable to obtain basalt – a key ingredient in cement – of the quality and the quantity the ACP said would be available.
The ACP was also at fault for “unjustified” delays caused by its failure to give timely approval for the concrete mix proposed by GUPC, the DAB concluded.
The release of the note of dissatisfaction opens the door for the ACP to take the case to the third and final arbiter, the International Chamber of Commerce arbitration tribunal in Miami.