Notice of Final Agreement for Termination of Arbitration relating to Ichthys LNG Project - 12 April 2022
Country
Year
2022
Summary
JGC Holdings Corporation hereby announces that as a result of negotiations that have been continuing in parallel with arbitration proceedings with the subcontractor for the combined cycle power plant relating to the Ichthys LNG Project, a conditional settlement was reached on 11 April 2022.
CIMIC Group Limited: In accordance with the agreement, CIMIC will pay an amount of $192.5 million in April 2022, and an amount of $300 million in March 2023, as its contribution to the settlement amounts.