In July 2009, it was announced that the Belgian dredging company Jan De Nul, together with a consortium of contractors consisting of the Spanish Sacyr Vallehermoso, the Italian Impregilo and the Panamanian company Grupo Cusa, had been awarded the contract to build the six new locks on the enlarged Panama Canal to accommodate larger Post-Panamax vessels.
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Costing €340 million, of which 50% will be financed by the European Investment Bank, the Flemish KBC Bank is also making available a €81 million credit line, with the balance provided by the Antwerp Port Authority and the Flemish Government.
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