Miami-based Tribunal orders Panama canal construction consortium to pay back USD 848 mln: PAC

The Panama Canal Authority said on Wednesday that an arbitration tribunal has ordered the construction consortium behind the waterway's expansion to pay back nearly $848 million to the canal authority.

The ruling from the Miami-based tribunal stems from a protracted dispute between the canal authority and a group of builders, including Spain's Sacyr and Italy's Salini Impregilo, over cost overruns related to the canal's expansion, which was completed in 2016.