CK Hutchison defends Panama ports concession, breaking silence on controversy
Subsidiary of Li Ka-shing’s firm denies claims made by Panamanian lawyers in challenge over ports that are part of wider US$23 billion deal

The deal, announced on March 4, includes the company’s Balboa and Cristobal ports at each end of the vital waterway.
A key argument in the PPC’s defence was that it had made more than US$1.695 billion in investment in the two ports, exceeding the required US$50 million in the original concession contract and the US$1 billion under an addendum the conglomerate and Panama had voluntarily agreed to in 2005.
“We firmly believe that respect for legal certainty gives companies and investors the certainty that Panama is a safe country in which to invest,” the PPC said.
“Our philosophy of ‘Ports made by Panamanians’ reflects our continuous commitment to the country and its people, being an essential engine within the dynamic national economy and the maritime port sector.