Settlement reached in Dubai Metro dispute

Work on the Dubai Metro has resumed after a settlement was reached with a Japanese-led consortium over unpaid bills totalling billions of dollars, the Financial Times has reported, citing two sources familiar with the situation. Dubai Roads and Transport Authority and the consortium, which includes Obayashi, Mitsubishi Heavy Industries, Mitsubishi and Kajima and a Turkish firm, were able to reach an agreeement over disputed payments of about $2-3bn, the paper said. The consortium received roughly $5.3bn worth of orders to build the metro, with the work starting in 2005. But the actual construction expenses are expected to total almost twice that amount, leading to disputes between the two parties over who would fund the added costs.