Riyadh — Mubasher: Jubail Chemical Industries Company (JANA), a subsidiary of Nama Chemicals Company, commenced arbitration proceedings on 2 August against a consortium comprising Green Al Rawaq Environmental Services Company and Confident Engineering International.
The dispute concerns a calcium chloride return water treatment project, according to a bourse filing.
The move follows the company’s decision on 5 February 22025 toterminate two contracts originally signed with the consortium on 28 February 2024.
Termination was triggered by a material breach of contractual obligations by the consortium.
Nama Chemicals stated that the legal action was taken after the counterparty failed to implement corrective measures despite being granted a statutory grace period to address performance deficiencies.
Through this arbitration, JANA seeks to protect its legal and contractual rights, claiming full compensation for damages and losses resulting from the breach.
Additionally, the company’s legal advisor is currently reviewing a second project involving sodium chloride return water treatment to determine if further arbitration is required.
Nama Chemicals noted that any associated costs will be determined at a later date.
