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FINANCIAL NEWS
Hill International to return to Libya
25 Feb 2014
(MENAFN) US-based construction management company Hill International said that it plans to return to Libya, Arabian Business reported.
The company said that it will return in the following two to three months, despite of it being owned most of a USD60 million invoice for work in Libya.
The company received a cash payment in the third quarter of last year from the Organization for Development of Administrative Centres (ODAC) of around USD2.4 million to Hill and an additional USD700,000 to tax authorities on Hill’s behalf for work in 2011.
“We’ve been begun to collect money” we’re in the process of negotiating further payments and a return to work, a new contract. We expect that this is the year that we will see most if not all of our money,” Hill president told Arabian Business.
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