SONATRACH Pays a 100 million Euros Compensation to Spanish OHL

HOL  will collect the amount of 85 million Euros (1000 billion centimes) from the National Highways’ Agency following the dispute over the highway “Zerlda-Boudouaou” project.

“Euro presse” Spanish news agency quoted sources in the Spanish OHL, which is managed and led by Juan Miguel Villar Mir, as saying that the agreement between Sonatrach and OHL was made recently, and it culminated in the compensation of 100 million euros, referring to the payment which took place last January, 4.

According to the same source, the agreement puts an end, once and for all, to the dispute between the two companies, which lasted for several years, and particularly since 2012, when the Spanish company submitted a request for international arbitration at the International Chamber of Paris, against Sonatrach, on the project of conventions’ center in Oran, in order to claim the payment of additional costs.

It is clear that the national oil company Sonatrach preferred amicable solution rather than continue the international arbitration battle at the Paris Chamber, where the parties reached a compromise requiring the compensation of 100 million euros by SONATRACH, while the Spanish party asked for additional compensation of up to 218 million Euros.

Spanish company asked for compensatory amounts of money because of the additional works that have been made on the project, which were not included in the book of conditions, because officials rushed to receive the project before the gaz summit, “JNL.16” in 2010, and a number of bills that have not been repaid as well, and they reached  218 million euros (269 million dollars).