MSHEIREB: Sensible district in Qatar’s capital Doha
Picture credit score: CC/Hufton and Crow
Spanish infrastructure group Obrascon Huarte Lain (OHLA) will share in a €315 million payout after Qatar Rail cancelled a €1.1 million Doha metro challenge.
OHLA, Samsung C&T and the Qatar Constructing Company received the contract for work on the Msheireb and Schooling Metropolis stations in Might 2013.
Three years later in 2016 the Spanish firm confirmed to the London Inventory Trade that Qatar Rail had terminated settlement, alleging “non-compliance of sure contractual obligations.”
The consortium filed an arbitration request in opposition to Qatar Rail with the ICC in December 2017, initially claiming roughly €400 million, whereas the railway firm submitted a counterclaim of €265 million.
The ICC introduced on March 4 that Qatar Rail ought to compensate the consortium with €314.9 million, of which €95 million goes to OHLA, which had a 30 per cent stake within the three way partnership.
This closing determine included €23.3 million in prices, though not €692,000 arbitration prices.
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