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They demanded 100 million euros in compensation, Albania wins the arbitration with "Kurum"

2024-08-01 13:49:59Biznes SHKRUAR NGA REDAKSIA VOX

They demanded 100 million euros in compensation, Albania wins the arbitration

Albania has won in the international arbitration the confrontation with the company "Kurum", which had the concession of the container terminal in the Port of Durrës, and demanded 100 million euros in compensation.

"Kurum" claimed unilateral contract termination by the Ministry of Infrastructure. But the international judges thought differently, reaching the conclusion that it was "Kurum" itself that did not respect the contract with the Albanian state and did not make the anticipated investments.

The International Center for the Settlement of Investment Disputes, ICSID, part of the World Bank group, decided that all court costs, including those of the Albanian state, should be paid by the losing party.


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