The Panama Canal Expansion could be hit with new delays due to the cracks that were found in one of the locks a few months ago, according to Reuters.
The consortium leading the project expects to finish repair work by mid-January, 2016; however, doubts still loom on the final completion date of repairing the cracks in the lock.
With the repair works taking place, the consortium said it is trying “to minimise the impact on the final handover, planned for April, 2016.”
The total completion cost of the project was set for more than US$5 billion; however, these costs have since risen as a result of the repair works.
The Panama Canal will be able to service up to 14,000 TEU ships, with the creation of a third lane of traffic when it is completed.