World Bank hits Spanish engineering firm with long debarment
The World Bank
debarred a Spanish engineering services company Wednesday for three-and-a-half-years for
collusive, corrupt, and fraudulent practices related to two projects in Vietnam.
Madrid-based
Grupo Mecánica del Vuelo Sistemas S.A.U.,
a subsidiary of Spanish international technology group GMV,is ineligible to participate in projects and operations financed by the World Bank Group during the 42-month debarment.
According to the World Bank,
some of the company’s former management colluded with two designing consultants to gain unfair competitive advantages in two tendering processes.
They also agreed to pay
a commission to the consultant’s agent to influence the tender process and win a contract.
The company additionally failed to disclose its involvement in drafting the tendering documents for the two projects.
The two Vietnam projects funded by the World Bank were
the $272 million Danang Sustainable City Development Project
the $295 million Hanoi Urban Transport Development Project.
The settlement agreement
provides for a significantly reduced period of debarment with conditional release in light of Grupo Mecánica del Vuelo Sistemas’s “extraordinary cooperation,”
including voluntarily stepping back from World Bank projects during the audit, remedial actions, and compliance enhancements
The FCPA Blog
https://fcpablog.com/2021/03/03/world-bank-hits-spanish-engineering-firm-with-long-debarment/
GMV Innovating Solutions