Algeria: Saipem, SNC-Lavalin under scrutiny


Italy’s Saipem has said it could lose up to €500m ($653m) in payments due from Algeria because of an investigation into allegations that it paid bribes to win contracts. Chief executive Umberto Vergine said on 23 April, “we are having some difficulties to get recent payments and the worst-case scenario is we won’t get these payments.” Saipem said it had been informed that an Algerian court had extended its investigation, but added it had no details on the state of the case or the people involved.