"It will hardly affect profits." That is the response that the construction firm Sacyr gave after announcing that it would suspend its work at the Panama Canal because of a cash shortage. In essence, the project ebitda is under 5% of the company's net profits.
Further, any kind of indemnification costs for not completing the project would be covered by insurance and financial backers. The Panamanian authorities, the Minister of Public Works and Manuel Manrique are trying to form an agreement that would suppress a possible international conflict. The construction company FCC and the French firm Vinci are also hurting from rising prices, which makes you wonder if these projects were started at the right time.
