Saipem drags Sonatrach to International courts to gain 1.900 billion ZDZ

It was made sure and official that the Italian company SAIPEM already moved to the counter-attack in its dealings with the national company after the resounding corruption scandal in which officials from both companies are involved, as the Italian company resorted to international arbitration for the fourth time out of seven projects that it obtained originally through crooked ways and is concerned directly with the judicial investigations in Algeria and Italy, as SAIPEM won these projects in the era of Chakib Khelil when he was Energy Minister.

Generally, the Italian party asked Sonatrach to pay a large amount of money in the four cases, that are exposed before the international arbitration, as the total financial value of the demands that were made by SAIPEM, reach up to 1.643 billion Euros, an amount that exceeds 19.650 billion centimes in the Algerian national currency.

In this context, the Italian Saipem resorted for the fourth time to the International Chamber of Commerce in Paris, that is competent in international arbitration for projects, and this is about the liquefied natural gas is Arziw, Oran (western Algeria), and this according to what was stated in the report of SAIPEM’s financial outcome for the third semester of the year 2015 and the first 9 months of the year, which copy is available to Echorouk.

It appears, in the report that the Italian party filed its complaint in Paris on last July, 31, as the Italian company asked Sonatrach to pay 550 million Euros, for the additional costs that it incurred, during the completion of the project, especially those related to the orders of the amendment that are contained, the extended deadlines and unpaid bills and the benefits of it.