Israeli strike on an electricity plant in Gaza - cost millions to US taxpayers?

Haaretz reports;

“The power station in Gaza was built over a period of five years, at a cost of $150 million. In 1999, the Enron Corporation, along with Palestinian businessman Said Khoury, began working on the project. In 2000, Khoury's Morganti Group purchased Enron's share of the project.

The power station began operating in 2002, reaching full commercial capacity in 2004. The owners of the power station insured it, through the Overseas Private Investment Corporation, for a sum of $48 million due to "political risks." OPIC is a U.S. government authority that insures U.S. investments in developing markets.”

For Comment; Should governments be involved in political risk insurance?

Violence Plagues Middle East
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This page contains a single entry by Paul published on July 5, 2006 10:37 PM.

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