Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Algeria Witholds Payments to Japanese Contractors, Kyodo Says

Don't Miss Out —
Follow us on:

Jan. 7 (Bloomberg) -- Japanese Transport Minister Sumio Mabuchi today confirmed Algeria has withheld payments to a Japanese consortium for a highway project in the African nation, Kyodo News reported.

The consortium includes Hazama Corp., Itochu Corp., Kajima Corp., Nishimatsu Construction Co. and Taisei Corp., according to the report. Mabuchi was speaking at briefing after a cabinet meeting today, Kyodo said.

The Asahi newspaper on Dec. 14 reported that Algeria was withholding 100 billion yen ($1.2 billion), claiming the contractors had failed to meet terms. The report cited people familiar with the situation.

Link to Company News:{1719 JP <Equity> CN <GO>} Link to Company News:{1801 JP <Equity> CN <GO>} Link to Company News:{1812 JP <Equity> CN <GO>} Link to Company News:{1820 JP <Equity> CN <GO>} Link to Company News:{8001 JP <Equity> CN <GO>}

To contact the reporter on this story: Go Onomitsu in Tokyo at gonomitsu@bloomberg.net

To contact the editor responsible for this story: Steven McPherson at smcpherson@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.