Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Oman state refiner Orpic says it is proceeding with legal action against Korea’s Samsung Engineering for “failure to meet their obligations” under a tender for the Sohar Refinery Improvement Project (SRIP).
This comes in response to a filing by Samsung Engineering on 20 July for arbitration by the World Bank’s Washington-based International Center for Settlement of Investment Disputes (ICSID) in a dispute over the refinery revamp project.
The Korea Times quotes a Samsung Engineering spokesman as saying: “We submitted a request for arbitration from the third party. We were chosen as a preferred bidder for the project, but Orpic withdrew the project during the negotiations.”
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE