VOL. XLIV
No. 09
26-February-2001
LIBYA
Libya Tells South Korea It Expects Compensation For Losses On GMR
Libya has informed the Seoul District Civil Court that a partner of Dong-Ah Engineering and Construction Company Ltd in the Great Man-made River (GMR) project must pay it $1.3bn to compensate for losses if Dong-Ah fails to complete phase II of the project. Korea Express Co has provided debt payment guarantees worth $563mn to Dong-Ah covering phase II of the GMR, which is 95% complete. Libya...
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