A London-based arbitration tribunal has ruled in favour of the Electricity Company of Ghana (ECG), substantially rejecting the claim by Power Distribution Services Ghana Ltd. (PDS) for compensation following the termination of its management contract with ECG.
The tribunal’s ruling comes after nearly three years of proceedings and marks a decisive end to the long-running dispute stemming from the contract termination.
Under PDS’s claim, which reportedly totalled around US$390 million, the company alleged wrongful termination and sought to recover damages. The tribunal, however, found in favour of ECG and dismissed PDS’s claims.
PDS, in its initial response, acknowledged the ruling, calling it “respectful of the integrity of the arbitration process” and noting that its legal team is currently reviewing the decision in detail to determine the next steps.
ECG and the Government of Ghana, by extension, have welcomed the outcome as a vindication of the country’s oversight mechanisms in the power sector.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source link
