NICOSIA, Cyprus (AP) — A Chinese-led consortium on Thursday pulled out of its contract with Cyprus to build the island nation’s first natural gas import terminal over what it says was the Cypriot government’s failure to pay what it owed for work completed this year. Read this article for free: Already have an account? To continue reading, please subscribe: * NICOSIA, Cyprus (AP) — A Chinese-led consortium on Thursday pulled out of its contract with Cyprus to build the island nation’s first natural gas import terminal over what it says was the Cypriot government’s failure to pay what it owed for work completed this year. Read unlimited articles for free today: Already have an account? NICOSIA, Cyprus (AP) — A Chinese-led consortium on Thursday pulled out of its contract with Cyprus to build the island nation’s first natural gas import terminal over what it says was the Cypriot government’s failure to pay what it owed for work completed this year.
The CPP-Metron Consortium said in a statement that the Cypriot government failed to live up to its commitments to pay up, despite promises made during a March meeting chaired by President Nikos Christodoulides. “No contractor can be expected to work indefinitely on credit,” the consortium said. “That was not the deal CMC signed up to.
” The Cyprus government has not yet commented on the development. Work on the 289 million euro ($319 million) terminal on the island’s southern coast began in July 2020 and was.