Samsung C&T's order from UAE scrapped

By Nam Kwang-sik
SEOUL, April 3 (Yonhap) -- Samsung C&T Co., a South Korean construction and
trading firm, said Friday that its 1.38 trillion won (US$1billion) order from the
United Arab Emirates has been scrapped.

Under the deal with Dubai-based real estate developer Nakheel, Samsung C&T had
planned to build apartments, shopping malls and other commercial structures in
Dubai by Oct. 31, 2013.
"The cancellation of the deal came via unilateral notification by the
contractor," Samsung C&T said in a regulatory filing without elaborating on the
reason.
Shares of Samsung C&T were down 0.71 percent at 41,800 won as of 1:50 p.m. on the
Seoul bourse.
ksnam@yna.co.kr
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