A Spanish-led engineering consortium, Sacyr, has filed for arbitration against Uruguay due to unpaid dues linked to a US$1.5 billion railway project, seeking resolution for outstanding payments.
An engineering consortium headed by the Spanish firm Sacyr has initiated arbitration proceedings against the government of Uruguay. This claim is related to unresolved payments stemming from a significant US$1.5 billion railway infrastructure project. The arbitration seeks to address these outstanding financial obligations, highlighting the consortium’s concerns regarding the contractual agreements with the state.
The arbitration case brought by Sacyr against Uruguay emphasizes the ongoing financial disputes over a major rail project. It illustrates the complexities involved in large-scale international infrastructure initiatives and the potential for conflicts arising from financial agreements. The outcome of this arbitration may have implications for future projects and international investments in Uruguay.
Original Source: globalarbitrationreview.com
