The African Development Bank (AfDB) has queried Mitsubishi Heavy Industries over the handling of the Abu Qir 1300 MW Steam Power Project in Egypt.
In line with the Integrity in Development Projects, the AfDB Group on on February 2, issued Letter of Reprimand to Mitsubishi Heavy Industries Ltd. (MHI) for sanctionable practice
According to AfDB, “This matter arises in the context of the Abu Qir 1300 MW Steam Power Project in Egypt. On January 15 2008, the bank entered into a loan agreement with the Arab Republic of Egypt to finance part of the Project which had a broad objective of improving the electricity supply in Egypt. MHI, as part of a consortium, submitted a bid and was awarded the contract”.
In a statement, the AfDB, says it considers there is sufficient evidence to support a finding that it is more likely than not that MHI engaged in sanctionable practices (misrepresentation) in the context of Abu Qir tender and contract implementation.
In consideration of the above and in the absence of any aggravating factor, AfDB decided to issue a Letter of Reprimand against MHI in line with Section 11.2 (a) of the Sanctions Procedures of the African Development Bank Group.
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