/ 13 May 2001

CANAL COMPANY LIQUIDATED

A SOUTH Korean court on Friday ordered the liquidation of the ailing Dong-Ah Engineering and Construction Company, a lead contractor for an ambitious project to build a canal across the Libyan desert. Libya’s waterway project is the largest of Dong-Ah’s overseas contracts and is worth $6.5bn. It has completed 98% of the work on the first two stages of the waterway. The Libyan irrigation canal, one of the world’s largest civil engineering projects, is being built in five stages. – AFP