Panama’s government won a lawsuit against Spanish company Sacyr, officials said Friday, after the firm claimed it was owed around $2.3 billion for its work expanding the Panama Canal.

Sacyr sued Panama in 2018, alleging the Central American country violated a free trade agreement with Spain.

“The Republic of Panama won the international investment arbitration claim filed by Sacyr S.A. under the Arbitration rules of the United Nations Commission on International Trade Law” and the tribunal rejected all claims submitted by Sacyr, Panamanian officials said in a release.

Sacyr has been ordered to pay $6 million in arbitration costs, officials said.

Panama’s president Jose Raul Mulino hailed the decision on X, calling it “a great achievement.”

Along with Italy’s Impregilo, Belgium’s Jan De

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