Tekfen agrees with Libya for the Great River project

In the statement made to KAP, "Information was given about the commercial arbitration case initiated before the International Court of Arbitration of the International Chamber of Commerce (ICC) against the employer administration Libyan Man-Made River Authority (MMRA) and the Libyan State in order to compensate all unpaid rights and receivables of the project, which was stopped due to the events in the country.

35 million dollar payment agreement reached

Accordingly, as a result of the lawsuit, it was stated that "the Arbitration Panel issued an interim decision in favour of TTJV for the payment of 45 million 498 thousand dollars, the negotiations with the employer administration MMRA are continuing and the negotiations with the administration regarding the agreement on the collection of the compensation determined by the interim decision of the Arbitration Panel are being finalised." The statement added that as a result, an agreement was reached with the employer MMRA to make a net payment of USD 35 million 407 thousand to TTJV.