Dubai denies payment issue with Metro developers


For Al-Shorfa.com
2010-01-07


Dubai's transport authority is denying reports that work on its $8 billion Metro project had slowed because of overdue back payments, Zawya Dow Jones reported on Thursday (January 7th). A report on Thursday in Japan's Nikkei business daily indicated that the Japanese-led consortium constructing the Metro would suspend building until back payments were secured.

"The authority confirms its contractual commitment to payments in accordance with the progress of the work on the project," read a statement from the Roads and Transport Authority. A spokesman leading the consortium, Mitsubishi Heavy Industries, said work on the Metro has "slowed down," without providing details.

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