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Civil engineering in the news -- 17 October

Masdar, set up by the emirate to channel funds into green projects, is buying part of a stake in the London Array project owned by the German power company E.on...

...The array's future was thrown into confusion earlier this year when Royal Dutch Shell decided to pull out of the project, which had been promoted as a major contributor to the UK meeting carbon emissions targets. At the time of Shell's decision, E.on described the commercial viability of the array as "marginal at best" - Daily Telegraph

Chinese workers building a resort on West Caicos island when the financial meltdown bankrupted the project demanded their wages yesterday and were reportedly holding Israeli contractors at the site. An Israeli at the scene, identified only as Moti, said he and about a dozen other Israelis were trapped and worried - The Guardian

Iceland's central bank has offered to guarantee all international money transfers to the country, while blaming the British authorities for causing the biggest problems in the system - Daily Telegraph

Shares in Travis Perkins plunged 31% yesterday after the building merchant and owner of DIY chain Wickes said the construction market faces a steeper-than-expected decline following the turmoil in the financial markets - Daily Telegraph

Abu Dhabi has taken a 20% stake in the London Array - the £3bn project to build the world's largest offshore wind farm in the Thames estuary. Masdar, part of Abu Dhabi's mulitbillion-pound drive to develop green energy technologies, is buying part of the 50% stake in the project held by German-based utility E.ON - The Guardian

Illegally dumped waste on public land in England was down 7.5%, the Department for Environment, Food and Rural Affairs said. But the Country Land and Business Association said the government had underestimated the problem because the figures excluded illegal dumping on private land - Financial Times

The Treasury ordered public bodies doing private finance initiative deals yesterday to require a much bigger share of any windfall gains from refinancing them in the future. PFI deals are still being negotiated - not without difficulty - in spite of the credit crunch as some banks see their government-backed revenues as a haven in the financial turmoil - Financial Times

Europe's commitment to ambitious green goals became the latest victim of the global financial crisis yesterday when a growing number of EU countries rebelled, claiming that the plans were now too expensive. Plans for binding European legislation by December were dropped as the EU watered down the carbon dioxide blueprint that it had announced with a fanfare 18 months ago - The Times

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