GO
Loading...

Russia EuroChem claims $800 mln from Shaft Sinkers

MOSCOW, Oct 5 (Reuters) - EuroChem, Russia's top mineral fertilizer producer, said on Friday it has filed a $800 million claim with international chambers of commerce against Shaft Sinkers for "failure to complete the construction of the cage shaft".

EuroChem said it has filed the claim with the Swiss Chambers of Commerce in Zurich and the International Chamber of Commerce in Paris.

"The claim seeks compensation for the costs and substantial lost profits incurred by EuroChem-VolgaKaliy due to the delay in commencing potash production as a result of Shaft Sinkers' failure to complete the construction of the cage shaft at the Gremyachinskoe deposit," the company said in a statement.

The deposit is one of two greenfield potash projects currently being developed by EuroChem in Russia.

Shaft Sinkers was not immediately available for comments.

(Reporting by Vladimir Soldatkin; Editing by Lidia Kelly)

((vladimir.soldatkin@thomsonreuters.com)(+7 495 775 12 42)(Reuters Messaging: vladimir.soldatkin.thomsonreuters.com@reuters.net))

Keywords: RUSSIA EUROCHEM/CLAIM

Symbol
Price
 
Change
%Change
SHFT
---