Egypt rejects $500m ICC arbitration award to Damietta International Ports Company

Egypt rejects $500m ICC arbitration award to Damietta International Ports Company

The Egyptian court has ruled in favour of the Damietta Port Authority (DPA), which falls under the Ministry of Transport, and which had cancelled a concession granted to the Kuwaiti group.

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            ▪ Egypt rejects $500m ICC arbitration award to Damietta International Ports Company

▪ The Egyptian court has ruled in favour of the Damietta Port Authority (DPA), which falls under the Ministry of Transport, and which had cancelled a concession granted to the Kuwaiti group.

https://www.africabusinessplus.com/en/809894/egypt-rejects-500m-icc-arbitration-award-to-damietta-international-ports-company/

Damietta International Ports Company SAE (DIPCO), which is 25% controlled by Kuwait’s KGL International for Ports, Warehousing and Transport Company KSC, brought the case to the International Chamber of Commerce (ICC Paris) on 21 September 2015.

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