It is reported that Panama Canal Authority has decided to provide an extension for the locks proposal due date after hearing what was involved from interested companies.

Panama Canal Authority in a statement said that the extension is in line with the overall timeline of the expansion project and the program remains on track. ACP has already planned for such contingencies.

The ACP said that 4 global consortia are in the running for the contract and now have until December 10th 2008, to submit bids for what will be the largest and most important project under the USD 5.25 billion expansion.