BROADCAST 1: Contractors point of view on construction change over Middle East
Projects are coming, we involve in tenders, a lot of times the tender is not meeting the budget and it is retendered, which means additional cost, says Wail Farsakh, general manager at Dutco Balfour Beatty.
The project moves on. Sometimes even while the project is moving, there are delays in the continuation of the project; introducing a lot of changes in the project, which … causes further complications in the payment. The resulting delay in payment automatically aggravates the cash flow of the contractor; it affects the sub-contractors and the supply chain. Thus we see companies that cannot cope with the current economic situation due to their size and capability to withstand shocks. Source: Mashreq Live Broadcast