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Municipalities ministry says retrieved $4m from French firm

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Municipalities ministry says retrieved $4m from French firm
July 20, 2009 - 11:56:39


BAGHDAD / Aswat al-Iraq: The Iraqi ministry of municipalities & public works said on Monday that it has restored the sum of $4 million from a French company Iraq had signed a contract with in 1987 to purchase equipment.

“The ministry got back $1.300 million plus interest that reach $2.700 million from a French company Iraq signed a contract with to purchase water and sanitary sewage equipment,” according to a ministry release as received by Aswat al-Iraq news agency.

The release quoted Minister Riad Gharib, currently on a visit to France to encourage French companies to play a role in reconstruction projects in Iraq, as saying that the two sides agreed that Iraq would receive equipment for water and sewage projects in return for that sum.

http://en.aswataliraq.info/?p=116346

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