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Wednesday, 11 December 2019

Algeria withholds payment to Japanese road-project contractor

Algeria is withholding a $1.2 billion payment to a Japanese consortium for a highway project, citing terms were not met by contractors

Ahram Online, Friday 7 Jan 2011
high road
High road payment was withheld by Algeria. (photo: Reuters)
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Japanese Transport Minister Sumio Mabuchi confirmed today that Algeria has withheld payments to a Japanese consortium for a highway project in the African nation, Kyodo News reported, according to Bloomberg.

According to the report, the consortium includes Hazama Corp., Itochu Corp., Kajima Corp., Nishimatsu Construction Co. and Taisei Corp. Mabuchi delivered the briefing after a cabinet meeting today, Kyodo said.

Algeria is withholding $1.2 billion, citing that contractors had failed to meet terms, as reported by Asahi newspaper on 14 December.

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