The African Development Bank Group said Wednesday it reached a settlement with Hitachi Ltd. that includes a one-year debarment for sanctionable practices by Hitachi subsidiaries on an AfDB-financed power project in South Africa.
Entries in Africa Development Bank (5)
The Securities and Exchange Commission Monday charged Tokyo-based conglomerate Hitachi, Ltd. with violating the Foreign Corrupt Practices Act when it inaccurately recorded improper payments to South Africa’s ruling political party in connection with contracts to build two multi-billion dollar power plants.
Snamprogetti Netherlands B.V. agreed to pay the Africa Development Bank $5.7 million in penalties for bribery related to contracts for liquefied natural gas production plants on Bonny Island, Nigeria.
Kellogg Brown & Root LLC, Technip S.A., and JGC Corp. agreed to pay $17 million in penalties in a settlement with the African Development Bank (ADB) for corrupt practices by affiliated companies in connection with contracts for liquefied natural gas production plants on Bonny Island, Nigeria from 1995 until 2004.