View Larger Image The Panama Canal: A Risky Bet The New York Times » According to this investigatory report by The New York Times, the consortium that was awarded the $3.1 billion Panama Canal (“Panamax”) contract is seeking $3.4 billion in excess expenses. Construction on the megaproject was completed two years behind schedule due to internal disputes, work stoppages, porous concrete, cracks in the concrete, and water shortages. The Panamax was built to move 12 giant ship per day. However, the new locks can only handle up to three “neo-Panamax” ships per day, guided by tugboats driven in reverse, which is “something that cannot be done.” By Michelle|2017-06-30T10:14:13-08:00June 22, 2016|Panama, Public-Private Partnerships|Comments Off on The Panama Canal: A Risky Bet Share This Story, Choose Your Platform! FacebookTwitterRedditLinkedInWhatsAppTelegramTumblrPinterestVkXingEmail About the Author: Michelle Related Posts ‘A fiasco from the beginning’ — Caltrans’ costs soar on $1.1 billion San Francisco tunnels ‘A fiasco from the beginning’ — Caltrans’ costs soar on $1.1 billion San Francisco tunnels Genoa Bridge Collapse Throws Harsh Light on Benettons’ Highway Billions Gallery Genoa Bridge Collapse Throws Harsh Light on Benettons’ Highway Billions Northam announces selection of firms to build $3.3 billion tunnel project Gallery Northam announces selection of firms to build $3.3 billion tunnel project Opinion: Maryland’s poor plan for public-prive partnership toll roads Gallery Opinion: Maryland’s poor plan for public-prive partnership toll roads