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Itare Dam: Italian firm denies bankruptcy reports
Monday, February 25, 2019 11:23
By DAVID MWERE
An Italian firm contracted by the national government to construct the multibillion Itare Dam within Nakuru County has denied claims that it is broke.
In a statement to newsrooms, CMC di Ravenna said that neither itself nor its subsidiaries have been declared bankrupt or insolvent.
CMC has voluntarily engaged in a composition with creditors procedure to ensure it safeguards the interests of all stakeholders (creditors, investors, clients and co-operative employees), the statement read.
CMC di Ravenna continu…
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