Panama Canal: Concrete Mix Producing Delays

The $3.2 billion expansion of the Panama Canal is delayed at least three month due to the inability from the contractor to present a concrete mix that could withstand at least 100 years. The construction of the locks is now expected to be completed by April 2015, few months later after flooding the locks, set to September 2014. The Panama Canal contract specifies liquidated damages of $300,000 each day up to a maximum of $54 million, and even further, the consortium in charge of Panama's Canal Expansion could also face additional penalties up to $200 million if it fails to meet the requirements outlined in the testing of the locks.