Published On: Thu, Feb 6th, 2014

Company contracted to construct new hospital eliminates 150 jobs

New hospitalWILLEMSTAD - The construction company Ballast Nedam which was contracted to construct the new hospital in Curacao is eliminating 150 jobs. The company is trying to strengthen its financial position on the long term with a rights issue of 30 million euro and new loans of 80 million euro with a payment term till 2017.

“The continuing difficult market conditions, the disappointing results in 2013 and later than expected proceeds from divestments have accelerated further actions which are necessary to save the company." Ballast Nedam expects a loss of 25 to 30 million. Most of it consists of restructuring costs and depreciation (15 to 20 million).

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