Press release -
Ansaldo STS update about the dispute on contract in Libya
Genoa, June 20th 2016
The recent arbitration award, related to the dispute between the joint venture Ansaldo STS - Selex ES and Zarubezhstroytechnology (ZST) about the contract for the Sirth – Benghazi line in Libya, almost entirely rejected Ansaldo STS and Selex's counterclaims accepting ZST claims.
Following the arbitration award, Ansaldo STS has to repay to ZST its own share of the residual amount (about EUR 29 million) of the advance payment and related legal fees plus interests.
Ansaldo STS is currently assessing further legal actions against such decision.
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