Company Overview and News
FRANKFURT General Electric has won a large contract to supply gas power equipment for a new 430 megawatt Romanian power plant, the first major deal to result from its $10.6 billion 2015 acquisition of Alstom's power business.
Roy Hill project head contractor Samsung C&T won two out of five determinations in the latest instalment in its legal dispute with sub-contractor Duro Felguera today, but Samsung was still told to pay Duro $12 million out of more than $60 million that had been sought.
Samsung C&T will be forced to pay a subcontractor at Gina Rinehart's Roy Hill iron ore project in the Pilbara about $12 million after partially losing a court battle.
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Spanish contractor Duro Felguera has suspended ongoing obligations to Samsung C&T, after the Roy Hill project head contractor refused to pay out on five recent court adjudications.
Proceedings will be stayed in the legal fight between Duro Felguera and Samsung C&T, with the dispute about work at the $10 billion Roy Hill project to be heard in Singapore by arbitrators.