BEIJING (Reuters) -Panama Ports Company (PPC) said on Friday that it will communicate with the Panama government at an appropriate time in the sale process of two key ports that it operates near the Panama Canal.
“We affirm that we believe engagement with the Government of Panama is vital to discuss the way forward for PPC,” it said in a statement.
Hong Kong-based CK Hutchison holds a 90% stake in PPC, which had a 25-year concession to operate the Balboa and Cristobal ports at both ends of the canal, renewed in 2021.
PPC’s statement comes after Panama’s Comptroller General’s office this week filed two suits with the nation’s Supreme Court aiming to nullify the contract on the basis that the renewal did not follow required legal steps.
(Reporting by Beijing Newsroom;)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.