May 28, 2018 / 8:13 PM / 5 months ago

VolkerWessels: investigation into $37 mln St. Maarten bridge project

AMSTERDAM, May 28 (Reuters) - Dutch construction and engineering company VolkerWessels said on Monday that two of its former subsidiaries, which helped build the Causeway Bridge on the island of St Maarten, were under investigation by Dutch authorities.

The after-hours statement by the company followed a report in Het Financieele Dagblad newspaper that cited Dutch prosecutors as saying they were looking into possible corruption in the project’s tender process.

VolkerWessels won a 32 million-euro ($37 million) contract to help build the bridge in 2012, which it said resulted in a 1.5 million-euro loss. The two subsidiaries were shut down in 2014, the company said. (Reporting by Toby Sterling; editing by Andrew Roche)

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