GUPC receives performace certificate from the Panama Canal Authority

  • The consortium recovers US$ 250 million in securities

The GUPC consortium, awardee of the contract for the Expansion of the Third Set of Locks of the Panama Canal −of which Sacyr is a member, together with WeBuild and Jan de Nul− has received the Performance Certificate, or Certificate of Compliance from the Panama Canal Authority, which attests to the fulfillment of obligations on the end of the GUPC.

As a result of receiving this certificate, the GUPC consortium significantly reduces its exposure to this contract and automatically recovers US$ 200 million in securities, which it had deposited to ensure the best quality of the work delivered and will receive another US$ 50 million in six months.

To Sacyr, receiving this document is further proof of the magnificent engineering project carried out by the GUPC in in the expansion of the Panama Canal, an infrastructure inaugurated in June 2016. Since then, no relevant incidents caused by the development of the project or its facilities have taken place

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