Brief: SPE Files Arbitration Claim Against Duro Felguera Over Contract Suspension

Duro Felguera SA

25/11/2024 06:28

Nov 25 (Reuters) - Duro Felguera SA  MDF.MC :
    * SAID ON MONDAY IT RECEIVED NOTIFICATION ON NOVEMBER 10 OF
ARBITRATION REQUEST FILED BY SONELGAZ PRODUCTION D'ELECTRICITÉ
(SPE) AGAINST DURO
    * REQUEST FILED AT CHAMBRE ALGERIENNE DE COMMERCE ET
D'INDUSTRIE
(CACI)
    * SPE REQUESTS LIFTING OF CONTRACT SUSPENSION, WORKS
RESUMPTION
AND COMPENSATION OF 349.2 MILLION EUROS AND 8.96 BILLION
ALGERIAN DINARS ($67.00 MILLION) 
    * DURO WILL PRESENT ITS OPPOSITION BEFORE DECEMBER 10
    * IT WILL REJECT SPE'S CLAIM UNDERSTANDING SUSPENSION BY
DURO IS
IN ACCORDANCE WITH LAW DUE TO BREACHES INCURRED BY SPE
    * IT WILL ALSO REQUEST, AMONG OTHER, CORRESPONDING
COMPENSATION
FOR DAMAGES CAUSED

        
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($1 = 133.7369 Algerian dinars)

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