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CZECH REPUBLIC: Construction contract award for planned $4,100,000,000 highway project, although...

PROJECT OVERVIEW:

The local MINISTRY OF TRANSPORTATION was expected to sing in December 2002 an addendum to its $4,100,000,000 contract with Israel-based HOUSING & CONSTRUCTION HOLDINGS LTD. (HCH) regarding the construction of a new highway. The addition is intended to fill gaps in the contract as well as clarify the government's responsibilities. In any case, the construction project is likely to go ahead because of the high penalty costs to be incurred in case of a contract annulment.

HCH operates as a holding company. The group is engaged in the deve

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