VOL. XLVI

No 18

05-May-2003

LIBYA

LG Construction Pulls Out Of Zawiya Upgrade Contract

South Korea’s LG Construction has pulled out of a $280mn contract to upgrade the 120,000 b/d Zawiya refinery after Libya’s National Oil Corporation, who commissioned and negotiated the contract, failed to make front-end payments, according to the Asia Pulse. The original contract was awarded in mid 2002 after protracted negotiations between NOC and the two leading bidders, LG and...