GUPCGeneric Unique Planning Component (JMPS)
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The GUPC includes the Spanish company Sacyr Vallehermoso, which holds a 48% interest in the consortium; the Milan-based Salini Impregilo; Jan de Nul, based in Luxemburg; and the Panamanian construction company CUSA.
It also agreed that the concrete mix initially suggested by GUPC, but rejected by APC, would have been sufficient to last for the anticipated 100-year lifespan of the project.
GUPC, financed by Spain's Sacyr Vallehermoso, Italy's Impregilo, Belgium's Jan de Nul and Panama's CUSA, suspended the canal expansion work after claiming the ACP should pay some 1.6 billion U.S.
Last month,PanamaPresidentRicardo Martinellisaid thatPanamahad the resources to complete the expansion of theCanaleven if talks with GUPC ended.
The other members of GUPC are Spain's Sacyr Vallehermoso, Belgium-based dredging company Jan De Nul and Constructora Urbana of Panama.
He added that the Spanish-led consortium in charge of the project, Grupo Unidos por el Canal (GUPC), should leave legal disputes aside and focus on meeting the deadline.
GUPC includes companies from Belgium, Italy, Panama and Spain.
The consortium building the project, Grupo Unidos Per El Canal (GUPC), then downed tools on the project.
28 announced the close of talks with Grupo Unidos por el Canal (GUPC) on which led to a conceptual agreement subject to documentation, review and final signature by the parties.