The collapse of the talks have been confirmed by Sacyr, the Spanish construction firm leading the GUPC consortium which is building the locks.
"Without an immediate solution, we face years of disputes in national and international tribunals," Sacyr said in a statement.
However, Sacyr adds that it will continue "to seek a solution for funding the completion of the project and completion of the works in 2015, even as the Panama Canal Authority broke off negotiations".
The
