World Bank debars Spanish construction giant
September 16, 2020 9:28 am
The World Bank
debarred a publicly-traded Spanish engineering and construction company Wednesday for two years for fraud and collusion involving a project in Colombia.
Barcelona-based FCC Construcción S.A. and 36 global subsidiaries
are ineligible to participate in World Bank-financed projects during the two-year debarment.
According to the World Bank,
FCC Construcción
arranged with public officials, through a subcontractor and a commercial agent, to have a competitor disqualified, which is a collusive practice.
The company
also misrepresented how it would use the contract’s advance payment, which is a fraudulent practice.
In another bidding process,
FCC Construcción
knowingly misrepresented the composition and the roles of three companies within a consortium that would execute the contract, which is also a fraudulent practice, the World Bank said.
The $487 million World Bank-funded project
was designed to help the Colombian government improve water quality, reduce flood risks, and create multi-functional areas along the Rio Bogota River.
FCC Construcción
was not part of the consortium that ultimately won the project, the World Bank said.
The FCPA Blog
https://fcpablog.com/2020/09/16/world-bank-debars-spanish-construction-giant/