Brazilian Firm Fined $30M for Breach in Panama Airport Expansion

Panama's Tocumen capital airport announced on Friday that a construction firm controlled by Brazil's Novonor has been ordered to pay more than $30 million. This penalty arises from the company’s failure to meet contractual obligations to expand one of the airport’s terminals. Novonor, formerly Odebrecht, faced a significant corruption scandal.

Panama's Tocumen capital airport announced on Friday a significant financial penalty for a Brazilian construction firm. Controlled by Novonor, the firm has been ordered to pay over $30.76 million.

The hefty fine stems from the firm's failure to comply with a contract to expand one of the airport's terminals.

Previously known as Construtora Norberto Odebrecht, Novonor rebranded after a major corruption scandal involving bribery across Latin America was brought to light.

(With inputs from agencies.)