Loading ...News
Japanese builders owed money by Dubai companies
Firms in Dubai owe billions of dollars to…
.....................................................................
Related articles:
-
Visit Abu Dhabi or Dubai?
The UAE capital promises to be a “luxury global cultural ... -
Tighter rules on EU visas would hurt Dubai Inc.
OPINION: Changing the UAE’s open border policies in the wake ...
Related modules:
-
Dubai Lynx Vs. MENA Cristals
One was rocked by a ‘fake ads’ scandal, the other ... -
Dubai Classic Car Show
Petrol-heads flocked to the recent exhibition of antique motors at ...
Related news:
-
Dubai World’s debt talks seeing “progress,” says UK minister
“There are signs of some progress being made from what ... -
Dubai debt crisis ‘will be resolved soon’
Abu Dhabi is ready to provide further aid, says UAE ...
Nov 7th, 2009
Firms in Dubai owe billions of dollars to Japanese contractors, Seiichi Otsuka, Japan’s Consul General in Dubai told The National. “Some Japanese construction companies are facing very serious debt problems as Dubai can’t pay,” he said. “Some companies engaged with the construction of the RTA Metro are facing some payment issues.”
Mitsubishi Heavy Industries (MHI), one of the companies working on the Metro, said that it is facing non-payment on its contracts. “MHI executed the construction of the Dubai Metro and some other contracts and we are still awaiting payment,” Koji Okamoto, general manager, of MHI’s Middle East office told the paper.
Previous Story Next Story
Thats some serios news…. Salik+Metro + Road use charges what is going on where is the money going? …. either the RTA does not have a finance and accounting department or they outsourced it to a group of monkies…. I dont know or is this the outcome of tearing down the roads of dubai 3 times in the last decade and reconstruct them from scratch again! I thought money was not the issue here!