Dubai owes Japan firms $7.5 billion in credit

 
The study covered 18 projects that involved Japanese general contractors, trading companies and electric machinery manufacturers, the Nikkei business daily.

The figure includes public works projects, such as subways and roads, commissioned by the Dubai government, it said. It does not include bank loans.

It said some US$1 billion of the accounts receivable have gone unpaid past their due dates, with some more than a year overdue.

Some of the delay is blamed on disagreements about which party should shoulder the costs that have over-run initial estimates, it said.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry