Petaquilla Minerals Ltd. (fka PTQMF)

[VBgood]

Koreans are coming:
"Uniting for Canal (GUPC), which runs the contract for design and construction of the third set of locks, canceled the letter of intent with the Dutch company Hereema that he would build the 16 gates at a cost of approximately $ 400 million .

The subcontractor had not signed some garantís required by the Panama Canal Authority (ACP), was one of the reasons that prevented lead to a successful conclusion the negotiations, said Antonio Zaffaroni, executive director of GUPC.

The gates are part of the contract that was awarded 3000 GUPC by $ 200 million on schedule and should start building in July 2011.

Following the decision of GUPC, managers of the consortium sent to the ACP proposals Hiunday (Korea) and Cimulai (Italy), companies can also build the gates. "