January 6, 2014 / 10:27 PM / 4 years ago

Panama canal authority proposes joint financing to end spat

A general view of the construction site of the Panama Canal Expansion project is seen on the outskirts of Colon City January 2, 2014.Carlos Jasso

PANAMA CITY (Reuters) - The Panama canal's administrator on Monday proposed that it and a Spanish-led consortium expanding the major maritime cargo artery plug a financing gap between them, and said the sides had agreed to hold talks on Tuesday.

Jorge Quijano, head of the Panama Canal Authority, floated the solution in comments to journalists after he met with visiting Spanish public works minister Ana Pastor, who is seeking to mediate a solution to the dispute surrounding massive cost overruns.

Reporting by Lomi Kriel and Elida Moreno; Writing by Simon Gardner

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