Portuguese court records and media reports indicate the group's financial troubles triggered insolvency proceedings, restructuring efforts and enforcement action by lenders.
By
Dominic Omondi
Business Reporter
Nation Media Group
A Portuguese construction company battling creditors in its home country has been conditionally selected to develop the long-delayed Thuci Dam in Embu under a Public-Private Partnership (PPP), raising fresh questions over the financial strength of firms seeking major State infrastructure projects.
Bidders say about 18 tenders, which were advertised last year have stalled, collapsed or cancelled yet are budgeted in the…
Auditors found the contractor absent from the project site, with several critical components yet to begin despite nearly three…
The World Bank Group recently cautioned Kenya against seeking unsolicited PPP deals.
The High Court rejected claims of excessive interest charges and undervaluation of assets, clearing the way for Equity Bank to…
The government abandoned the private financing model after projected water revenues fell short of supporting the investment costs.
EADB has lost a 23-year bid to recover Sh1.3 billion after court ruled it failed to justify the loan’s escalation.
