Algeria. Confirmation of the judgment rendered against the company "Saipem" The Italian was fined 192 million euros

The Supreme Court of Algeria rejected the appeal of the Italian company Saipem against the decision against it by the Court of Appeal, and upheld the company’s decision to pay Algeria compensation in the amount of 192 million euros.

Saipem was convicted in a corruption case related to the GNL3 liquefied natural gas plant project in Arzev, Oran province, which was acquired by an Italian company in 2008.

According to the new decision of the Supreme Court of Algeria, which has become final, Saipem will be obliged to reimburse the state treasury in compensation in the amount of 192 million euros.

According to a statement by the Italian company Saipem, published on its official website on Thursday, the Supreme Court of Algeria ruled in the context of criminal proceedings related to the NG3 project in Arzev, Oran province, to dismiss the reasons for the appeal. by all appellants against the decision of the Court of Appeal of Algiers of 28 June 2022.

The statement indicated that Saipem and its subsidiary in Algeria, as well as Sanam Progeti, an Algerian subsidiary, received notification of the decision of the Supreme Court of Algeria through their local lawyers, dismissing their appeal against the ruling. last June.
And in the same statement, it was stated that Saipem and its subsidiary in Algeria, as well as Sanam Progeti, an Algerian subsidiary, reserve the right to challenge the decision of the Supreme Court of Algeria in any other authorized arbitration court.

Following its decision to file a cassation appeal against the decision rendered against it in February, Saipem indicated at the time that the decision was related to actions punishable under Algerian law relating to “increase in prices when concluding contracts with a public institution of an industrial and commercial nature, who benefits from the power or influence of the representatives of that organization.” Corporation” and “False Customs Declaration”.

Source: Al-Shoruk, Algeria.