March 5, 2014 / 9:27 AM / 4 years ago

Strabag says may not be paid for Ukraine project

VIENNA, March 5 (Reuters) - Austrian construction company Strabag warned on Wednesday it may not be paid in full for a 140 million euro ($192 million) port project in Ukraine because of the Crimean crisis.

Speaking in an interview with Austrian TV station ORF, Strabag Chief Executive Thomas Birtel said the company may have to suspend work half-way into the project.

“We assume our client will experience payment difficulties as a result of the overall situation and then we will see whether we simply freeze our work on the project or have to withdraw completely,” Birtel said.

The company secured the contract for the expansion of a port near Odessa at the end of 2012 and half of the job is already done and paid for, a company spokesperson said. ($1 = 0.7277 euros) (Reporting by Georgina Prodhan and Michael Shields; writing by Kirsti Knolle; editing by Tom Pfeiffer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below