Zimbabwe: AfDB Blacklists Sinohydro

African Development Bank and Sinohydro have reached a settlement agreement on fraudulent practices.Sinohydro Corporation has agreed to a comprehensive verification of its compliance programme by the African Development Bank following the detection of a fraudulent practice in tendering for works contracts in Uganda.

Sinohydro has been awarded contracts in Zimbabwe, which include Kariba South extension and Hwange Power Station. The tender for Kariba South was awarded at a total cost of $533 million, a figure which was criticised for being double the price of similar expansion works on the other side of Zimbabwe.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.