CSCEC considers leaving Philippines

Source:Global Times Published: 2010-4-22 14:49:41

China State Construction Engineering Corporation (CSCEC), China's largest construction company, is considering evacuating from the Philippines, said a CSEC official Wednesday.

Since the World Bank blacklisted the CSCEC in January 2009 for a corruption scandal related to the Philippines National Roads Improvement Program, CSCEC's other businesses in the country have suffered setbacks.

The World Bank discovered that CSCEC and three other Chinese firms were colluding for a road project worth $33 million and suspended them from being involved in any locally-funded or foreign-assisted projects involving the multilateral lender.

Besides projects in the Philippines, the blacklist also affects CSCEC's businesses in other countries.

In March, Vietnam suspended an $85-million World Bank-funded project to dredge and upgrade the Nhieu Loc-Thi Nghe Canal with the blacklisted CSCEC.



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