For the first time since negotiations began, a deal to keep alive a canal widening project looks possible. The proposal, which elEconomista has seen, does not ask that Sacyr return the 780 million euros, 88 million of which are due immediately, that it is owed until the arbitrage courts issue a ruling on the dispute.
Sacyr, which has already received certificates for 2 billion dollars, is asking for 400 million dollars so that it has enough cash to finish the project. Panama must make this decision. Even though it is likely that the South American nation will give Sacyr less than what it asked for, a deal is on the horizon.
