- Fuel oil supplier seeks N Korea cash

  • 25/03/1998

  • Financial Times (London)

Kedo, the international consortium which is installing safe nuclear power in North Korea, had debts of $47m and is running out of money to supply heavy fuel oil while the plant is being built, Paul Cleveland, its US director said. The US, a founder member of Kedo along with the governments of South Korea and Japan, is seeking additional contributions from Europe to help make up the shortfall. Without additional funds, the shipments of oil will stop "in the not too distant future", he said.