Libya Calls on Seoul to Allow Bankrupt Company to Finish Man-Made River Project
Libya hopes that Seoul will allow Dong Ah Construction Co. and its subcontractors to finish its man-made river project, said the South Korean Ministry of Construction and Transportation on Thursday, cited by Asia Pulse.
The Libyan government's intention was made clear to the country earlier in the day, when Libyan Ambassador Ahmed al-Tabuli and the Libyan project director visited Construction and Transportation Minister Oh Jang, said the daily.
A ministry official was quoted by Asia Pulse as saying that “the general consensus is that even if the courts rule that Dong Ah should go bankrupt, the entity that legally "inherits" the builder or its existing subsidiaries would be able to finish the works.”
Work on the (Great Manmade River), the largest scheme to exploit fossil aquifer tables in the world, got under way in 1984 and was inaugurated by President Muammar Khaddafi in August 1991. Its essential aim is the irrigation, via a vast system of waterways, of agricultural areas on the Libyan coastal region by using waters located deep under the Sahara in the southern part of the country —Albawaba.com
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