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Cementos La Unión loses Arabian Cement Company arbitration case against Egyptian government


Cementos La Unión loses Arabian Cement Company arbitration case against Egyptian government
Written by Global Cement staff
15 December 2020
Egypt: The US-based International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of the Egyptian government in a compensation case raised by Spain-based Cementos La Unión concerning its Arabian Cement Company (ACC) subsidiary. The El Economista newspaper has reported that the company sought US$286m in compensation, due to the Egyptian government’s decision to retroactively impose new activity and electricity licences shortly after ACC built a new integrated cement plant in Suez Governorate. Cementos La Unión argued that the additional licences breached a bilateral agreement between Spain and Egypt covering investments that were already in place. ....

Suez Governorate , As Suways , El Economista , International Centre For Settlement Of Investment Disputes , Arabian Cement Company , International Centre , Investment Disputes , Spain Based Cementos La Uni , Cementos La Uni , ஸூயெஸ் ஆளுநர் , சர்வதேச மையம் க்கு தீர்வு ஆஃப் முதலீடு சச்சரவுகள் , அரேபியன் சிமென்ட் நிறுவனம் , சர்வதேச மையம் , முதலீடு சச்சரவுகள் ,