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Corporate News

Disagreements threaten US$14b dam project

KINSHASA: Serious disagreements between groups of Spanish and Chinese developers that want to build a 11,000MW hydropower plant in the Democratic Republic of Congo may scuttle plans for the US$14bil project, according to a report.

Business

Anil Ambani’s shipyard risks insolvency

MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.