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Alstom units of GE debarred from African Development Bank projects

( March 22, 2019, 22:32 GMT | Official Statement) -- MLex Summary: Alstom units of General Electric have been debarred by the African Development Bank for terms of as punishment for engaging in corrupt practices on two power projects in Egypt. The corruption occurred in 2006 and 2011, before GE acquired the units, AFB said. Alstom Egypt for Power Projects and GE Power Systems (formerly known as Alstom Power Generation AG) face debarment of 76 months. GE Power GmbH (formerly known as Alstom Power) is debarred for a period of 12 months.Statement follows:...

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