IRAQ-SAUDI ARABIA

Credit Guarantees Not Delaying Iraqi-Saudi Pipeline Project

MEES learns from well-placed Iraqi sources that work is going ahead as scheduled on the Iraqi-Saudi pipeline and that, contrary to press reports, there are no financial or risk guarantee problems delaying the execution of the project. According to these sources, the contract with the Italian-French consortium is a straightforward arrangement not requiring any guarantees and construction is already under way. The...