SEC Subpoenas
Chicago Bridge
On Nigerian Work
NEW YORK, Aug 22, 2005 (Reuters) - The Securities and Exchange Commission has subpoenaed documents from Chicago Bridge & Iron Co. (CBI.N) related to its work as a subcontractor on a multibillion-dollar Nigerian natural-gas complex, the Wall Street Journal reported on Monday.
The SEC is investigating payments made by a construction consortium led by Halliburton Co. (HAL.N) to determine whether any Nigerian officials were bribed to win the contract, the report said.
Chicago Bridge, a Texas-based engineering and construction company, said it was cooperating fully with the SEC but has declined to comment further.
The company was awarded a $100 million contract to build storage tanks in 1999 for the project, a liquefied natural-gas plant on Bonny Island in the Niger River delta.
The subpoenas are the latest development in an investigation that began last year, the Journal report said.
In addition to the SEC, the U. Justice Department and French and Nigerian officials are looking into the matter.
Earlier this year, the government informed Halliburton that it had broadened the investigation to determine whether employees had violated antitrust laws.
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