Panamanian President José Raúl Mulino on Thursday signaled that the Central American nation may take control of two ports at either end of the Panama Canal, potentially threatening the $22.8 billion sale plans of the ports’ current owner, Hong Kong-based conglomerate CK Hutchison, to a U.S.-based investment company.
The announcement came after Panama’s comptroller general, Anel Flores, filed two cases with the nation’s highest court seeking to invalidate a contract extension with Panama Ports Company, which would then allow Panama to establish its own public-private partnerships for the two ports.
Panama Ports Company, 90 percent owned by CK Hutchison, has operated the Balboa and Cristobal ports since 1997 and renewed a 25-year concession in 2021….