VOL. XLIII

No. 45

6-November-2000

LIBYA

Korean Firm Behind Great Man-Made River Project Files For Bankruptcy

South Koreas Dong-Ah Construction Company, a major contractor for Libyas Great Man-Made River (GMR) project, has filed for bankruptcy in Seoul in order to seek protection from its creditors, according to Bloomberg on 31 October. Dong-Ah is the primary contractor for the first four phases of the five-phase GMR, with contracts valued at a total of around $19bn, not counting a further $500mn...