UK-based Carillion has gone into compulsory liquidation.
Carillion Gulf JVs operational
01 February 2018
British construction company Carillion, which was forced into compulsory liquidation, has clarified that its overseas joint ventures such as Carillion Alawi were not part of this move, and would continue to operate uninterrupted, said a report.
The clarification comes after the British company announced that it has entered compulsory liquidation after costly contract delays and a downturn in new business that prompted a string of profit warnings and a first-half loss of more than 1 billion pounds ($1.4 billion), reported the Times of Oman, citing a company statement.
“Each overseas operation including Carillion Alawi remains outside of this process. Carillion Alawi continues to operate as normal with the support of its local partner and other valued stakeholders,” the company statement said.
“The business will continue to deliver safely and to the high standards that our customers expect from us on all of our operations across the Sultanate of Oman,” it added.
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