- (PLX AI) - Saipem first degree decision of Court of Algiers project GNL3 Arzew.
- • Saipem SpA, Saipem Contracting Algérie and Snamprogetti SpA Algeria Branch were charged, in accordance with Algerian law, of allegedly: "having obtained a contract, with a price higher than the expected value, concluded with a state-owned commercial and industrial company, benefitting of the influence of representatives of that company"; and of "false custom declarations"
- • Tribunal imposed a fine and compensation for damages against Saipem SpA, Saipem Contracting Algérie and Snamprogetti SpA Algeria Branch for an overall amount of about 192 million euros equivalent
- • Saipem will book costs for an equivalent amount at the end of the fiscal year 2021; payment is suspended following the appeal against the decision
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