Belgian group Tractebel, part of the French Suez Lyonnaise group, has been fined r148m by the Belgian government’s tax authority. The fine, thought to be a record for such fines in Belgium, relates to the payment of substantial commissions in attempts to gain contracts in Kazakhstan.
Tractebel is appealing against the penalties. The company claims the payments were legitimate consultancy fees.
•Tractebel’s North American subsidiary has started building the 720 MWe Hot Spring County power station in Arkansas. Construction is due to be completed by mid-2004.