The Panama Canal: A Risky Bet View Larger Image 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.” Michelle2017-06-30T10:14:13-08:00June 22nd, 2016|Panama, Public-Private Partnerships| Share This Story, Choose Your Platform! FacebookTwitterEmail Related Posts ‘A fiasco from the beginning’ — Caltrans’ costs soar on $1.1 billion San Francisco tunnels April 10th, 2019 Genoa Bridge Collapse Throws Harsh Light on Benettons’ Highway Billions March 5th, 2019 Northam announces selection of firms to build $3.3 billion tunnel project February 16th, 2019 Opinion: Maryland’s poor plan for public-prive partnership toll roads October 12th, 2018 Trump’s Failed Infrastructure Plan Is a Wasted Opportunity October 8th, 2018 PennDOT puts out call for public-private partnership proposals October 2nd, 2018 Kingston’s third bridge construction contract marks a first in North America September 26th, 2018 Public-Private Partnerships: When Will Reality Meet the Promise? August 30th, 2018 Fluor and ACS Infrastructure Canada Win Gordie Howe Bridge Deal August 1st, 2018