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ACP and GUPC get a final agreement to complete the expansion of the Panama Canal

Panama, August 1, 2014.

Today GUPC announced that an agreement to sign a variation in the contrac, to co-finance the completion of the third set of locks in the Panama Canal was reached with the ACP. The agreement respects the objectives contained in the Memorandum of Understanding signed in March 13th this year.

GUPC is pleased with the agreement and will contribute to maintain a robust and fluid cooperation with ACP as this represents a key factor to successfully complete the project according to the timeframe provided.

GUPC appreciates all the efforts made by the ACP and extends a warm recognition to the workers of the consortium for its patience and loyalty. Without them nothing could have been done.

GUPC reinforces its commitment to keep meeting the objective of providing a high class service to the ACP, to the people of Panama and to the world trade community in order to complete one of the most complex and fascinating infrastructure from all times: the third set of Locks of the Panama Canal

About GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) is the contractor for the design and construction of the Third Set of Locks - Home Project Canal Expansion Program. The group's technical capacity and experience in infrastructure projects in various countries of the world are ensuring that this project will be conducted with the highest standards of quality in the stipulated time.

GUPC is formed by Sacyr of Spain, Salini - Impregilo of Italy, Jan De Nul of Belgium and Constructora Urban, SA (CUSA) of Panama.

 

GUPC Press Release

Panama July 31, 2014.

Grupo Unidos por el Canal de Panamá reports that progress has been made with the agreement and we believe that there is good chance in reaching a final signature. We have worked day and night to find an acceptable solution for both parties. But, because of what has been happening in this negotiation, there are still some topics that have to be solved and that the ACP tries to modify constantly the terms reached just a few days ago.

We have received the latest draft of the ACP at 21.00 tonight and it still contains different things from what was agreed in the MOU. While GUPC ratifies the will to sign the agreement for the benefit of the project, it is still necessary an effort from the part of ACP to keep the terms agreed. We are going to check the lattest version and continue working.

About GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) is the contractor for the design and construction of the Third Set of Locks - Home Project Canal Expansion Program. The group's technical capacity and experience in infrastructure projects in various countries of the world are ensuring that this project will be conducted with the highest standards of quality in the stipulated time.

GUPC is formed by Sacyr of Spain, Salini - Impregilo of Italy, Jan De Nul of Belgium and Constructora Urban, SA (CUSA) of Panama.

   

La continuidad de GUPC no está en discusión

Tras las últimas declaraciones del Administrador del Canal de Panamá, Jorge Quijano, GUPC quiere aclarar que el consorcio presentó el 28 de Diciembre 2013 el arbitraje– no relacionado con la firma del acuerdo definitivo que se está discutiendo- en que se constituyeron parte tanto el Consorcio como individualmente sus integrantes. Esta práctica es común en los arbitrajes, sobre todo, cuando los socios son garantes de las obligaciones del consorcio. Además esta situación está prevista en las reglas de la International Chamber of Commerce (ICC). Por tanto, no es ninguna novedad de las últimas semanas como ha declarado la ACP.

Por otro lado, consideramos poco afortunadas las afirmaciones públicas de ACP sobre una posible bancarrota de GUPC teniendo en cuenta que, desde marzo hasta ahora, los socios del consorcio están invirtiendo 645 millones de dólares en la obra. La continuidad de GUPC y de sus 7,000 trabajadores panameños no está en discusión.

GUPC está redoblando esfuerzos para llegar a una firma del acuerdo en el marco de lo pactado en el MOU, aunque continuemos recibiendo nuevos cambios a los borradores por parte de ACP.

Coincidimos con las positivas declaraciones del Ministro Roy y GUPC está volcada a trabajar para concluir con éxito un proyecto de la envergadura del Tercer Juego de Esclusas de la Ampliación del Canal de Panamá.

Sobre GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) es el contratista encargado del diseño y construcción del Tercer Juego de Esclusas - principal proyecto del Programa de Ampliación del Canal. La capacidad técnica del grupo y su experiencia en obras de infraestructura en diversos países del mundo, son garantía de que este proyecto se llevará a cabo con los más altos estándares de calidad y en el tiempo estipulado.

GUPC está conformado por Sacyr de España, Salini-Impregilo de Italia, Jan De Nul de Bélgica, y Constructora Urbana, SA (CUSA) de Panamá.

   

GUPC sigue cumpliendo el acuerdo y moviliza otra compuerta en el sector atlántico

Panamá, 29 de julio de 2014.

La construcción del Proyecto del Tercer Juego de Esclusas cumplió con un nuevo hito esta mañana, luego de movilizarse la tercera de seis compuertas del sector Atlántico hacia la la Cámara Intermedia, confirmó Grupo Unidos por el Canal (GUPC), consorcio encargado del proyecto de “Diseño y Construcción del Tercer Juego de Esclusas” del Programa de Ampliación del Canal de Panamá. La operación, de gran complejidad ténica, se realizó con total precisión.

El consorcio informó que el traslado de estas seis compuertas hacia el lado Atlántico se efectúa, con la finalidad de obtener espacio para las cuatro adicionales que están por llegar a mediados de septiembre de este año.

El CEO de Grupo Unidos por el Canal, Giuseppe Quarta, señaló: “Estos son esfuerzos muy importantes que demuestran la voluntad por parte de nuestro Consorcio de seguir trabajando para culminar la obra. Este es un proyecto demasiado importante para Panamá y para el comercio mundial y eso es lo que nos debe unir a las dos partes; por ello reiteramos el llamado a la ACP para que mantenga los acuerdos del Memorando de Entendimiento (MOU por sus siglas en inglés) y no modifiquen los plazos ni las condiciones establecidos desde marzo”.

Además, el máximo responsable del consorcio añadió que “el consorcio en pleno continúa negociando con el equipo legal de la ACP para que se respeten los principios del MOU y se logre un acuerdo definitivo”.

Según el cronograma de esta maniobra, de tres a cuatro días tomará movilizar a sus respectivas cámaras en el sector Atlántico cada una de las tres compuertas restantes. La compuerta transportada en el día de hoy, es de tipo B y pesa 3,100 toneladas. Tiene 58 metros de largo; 10 de ancho y 30 metros de altura y la misma será instalada específicamente en el nicho de la compuerta 2-3. Su dimensión es congruente aproximadamente con el edificio de la Contraloría General de la Avenida Balboa, visto de manera acostada.

Sobre GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) es el contratista encargado del diseño y construcción del Tercer Juego de Esclusas - principal proyecto del Programa de Ampliación del Canal. La capacidad técnica del grupo y su experiencia en obras de infraestructura en diversos países del mundo, son garantía de que este proyecto se llevará a cabo con los más altos estándares de calidad y en el tiempo estipulado.

GUPC está conformado por Sacyr de España, Salini-Impregilo de Italia, Jan De Nul de Bélgica, y Constructora Urbana, SA (CUSA) de Panamá.

   

Press Release

Panama, July 28, 2014.

After the public statements made by the Administrator of the Panama Canal (ACP), Jorge Quijano, GUPC wants to point out that the arguments under discussion required to sign the final agreement between the consortium and the ACP for the construction of the Third Set of Locks are not new -as the ACP has declared- but these arguments have been on the table for months.

These points are still being discussed because the draft agreement initially sent by the ACP differed substantially from the Memorandum of Understanding (MOU, for its acronym in English) agreed last March. Therefore, it is still necessary to work in taking the agreement under the original parameters. The MOU is the first document signed that has to end up in a final agreement. In this second document is where ACP includes points that are far from what was signed in the MOU.

GUPC, as a consortium of leading international companies in the construction sector, is still working with the ACP to solve all the subjects on the table and to make real the project of the Canal expansion with the great relevance that this has for the ACP itself, Panama and the world trade commerce.

About GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) is the contractor for the design and construction of the Third Set of Locks - Home Project Canal Expansion Program. The group's technical capacity and experience in infrastructure projects in various countries of the world are ensuring that this project will be conducted with the highest standards of quality in the stipulated time.

GUPC is formed by Sacyr of Spain, Salini - Impregilo of Italy, Jan De Nul of Belgium and Constructora Urban, SA (CUSA) of Panama.

   

GUPC achieves 77% completion of Panama Canal expansion and calls on ACP to conclude agreement

Panama, July 25, 2014

Grupo Unidos Por el Canal (GUPC), the consortium of leading international construction firms, announced that construction of the Third Set of Locks for the Panama Canal expansion project has reached 77% completion and arrival in Panama of additional gates for the locks, despite obstacles that have affected the ability of GUPC to carry out the works.

The advanced rate of completion of the project represents the significant good faith steps that GUPC and its shareholders have accomplished since reaching an agreement with the Panama Canal Authority (ACP) last March to facilitate the funding and continued construction of the Third Set of Locks for the Panama Canal Expansion.

  • GUPC is dedicated first and foremost to the successful completion of the Project. GUPC has achieved an 77% completion rate despite the temporary suspension of works early in the year necessitated by factors outside the control the consortium. The ACP Board of Directors visited the project site two weeks ago and reported to the press their favorable impressions of the progress. 
  • GUPC obtained delivery of four new gates for the Third Set of Locks, arriving 4 months ahead of schedule last month. In the past week, in a technically flawless maneuver, the first gates was transported to the locks. 
  • GUPC has invested an amount of $100 million to the project as part of an agreed cofinancing arrangement. 
  • GUPC is also arranging $400 million in international financing to benefit the project. 
  • Not only, GUPC has directly invested an additional amount of $145 million to the project in addition to the co-financing arrangement. 

GUPC is continuing to advance the Third Set of Locks Project, building on its success of recent months.

The GUPC team has diligently prepared and dedicated itself to prompt resolution of all issues. Mr. Manrique, CEO and President of Sacyr has been present in Panama during the week to facilitate the negotiations, but the Agreement is to be signed by GUPC’s representative.

The full GUPC team is in Panama working tirelessly to this effect. It is however noted that most of the points for the conclusion of the agreement are with ACP to solve. GUPC hopes that ACP will comply with what established in the March agreement, so that the definite agreement can be closed in the foreseen deadline of July 31st.

About GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) is the contractor for the design and construction of the Third Set of Locks - Home Project Canal Expansion Program. The group's technical capacity and experience in infrastructure projects in various countries of the world are ensuring that this project will be conducted with the highest standards of quality in the stipulated time.

GUPC is formed by Sacyr of Spain, Salini - Impregilo of Italy, Jan De Nul of Belgium and Constructora Urban, SA (CUSA) of Panama.

   

GUPC ships the lock gates 4 months before the stipulated time

Panama, June 10, 2014. 4 months ahead of schedule, the second group of four lock gates has arrived in Colón. The lock gates were entrusted by “Grupo Unidos por el Canal (GUPC)” to Cimolai of Italy as part of the construction of the Panama Canal’s Third Set of Locks.

Loaded on the ship “Sun Rise” directly from the workshop in Italy, the four lock gates are already in Panama and meet GUPC’s technical requirements. In total, eight of the sixteen gates required for the project have been received.

GUPC executives emphasized that “the timely delivery of the lock gates is part of the commitments taken by the consortium in the Memorandum of Understanding (MOU) agreement that ended the conflict with ACP, which indicated that this second shipment would be in Panama in October".

"In GUPC, we continue to renew our efforts to meet our commitment and finish the construction of this important project, not only for Panama but for world trade as well. We trust that ACP will also comply with the agreement".

The gates of the Panama Canal’s Third Set of Locks use technology already put in practice in other countries. Instead of being hinged like the actual ones, the new ones will slide. This technology eases future maintenance and allows for the gates’ opening and closing process to last between four and five minutes.

About GUPC

Grupo Unidos por el Canal, S.A. (GUPC SA) is the contractor for the design and construction of the Third Set of Locks - Home Project Canal Expansion Program. The group's technical capacity and experience in infrastructure projects in various countries of the world are ensuring that this project will be conducted with the highest standards of quality in the stipulated time.

GUPC is formed by Sacyr of Spain, Salini - Impregilo of Italy, Jan De Nul of Belgium and Constructora Urban, SA (CUSA) of Panama.

   

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