CDI files arbitral case against South Valley Cement

Updated 12/16/2018 12:32:36 PM

ArabFinance: South Valley Cement (SVCE) announced in a statement sent to the Egyptian Stock Exchange, there is a dispute has been stirred with CDI company that assigned to establish the new mills project at its plant in Beni Suef.

South Valley Cement added that CDI did not abide by its contract clauses what make South Valley Cement to liquidity the letter of indemnity of 1,587,232 euro after warning CDI many times. 

Therefore, CDI filed an arbitral lawsuit because of liquidity the letter of indemnity and stopped working in the site. 

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