The African Development Bank Group (AfDB) Monday announced that it has debarred CHINT Electric for 36 months for its involvement in fraudulent practices.
CHINT Electric Co., Ltd., a power transmission and distribution equipment manufacturer and EPC contractor, upon an investigation conducted by the bank’s Office of Integrity and Anti-Corruption, confirmed that CHINT Electric engaged in several fraudulent practices. The company was found to have misrepresented its experience with similar assignments in order to meet qualification requirements in bidding for contracts.
The bank, however, imposed a debarment on CHINT Electric for a period of three years, subject to the company enhancing its corporate compliance programme within that period to the bank’s full satisfaction, as part of the settlement, in consideration of the company’s cooperation with the investigation.
During the period of the ban, the company will not be qualified to be awarded contracts under any African Development Bank-financed project or be a subcontractor, consultant, supplier, or service provider of any firm in the context of a bank-financed project.
The ban will also prevent CHINT Electric Co. from being contracted by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.
The bank, however, stated that the period of debarment may be reduced to 24 months if CHINT Electric complies with all conditions of the
By Joel Eneogwe