Italy's Torno Global Contracting SPA and Beta Funding SRL have appealed to the International Chamber of Commerce (Paris) asking it to investigate the situation in their business relations with Ukraine's Transport and Communications Ministry and Ukravtodor, according to the prospectus of the issue of Ukrainian eurobonds.
The companies in their statement said that the ministry and Ukravtodor violated the terms of the general agreement on cooperation in the reconstruction and operation of the M-05 Kyiv-Odesa highway, which was signed on October 8, 2003. The total amount of claims is euro 47 million.
In addition, the document reads that at a meeting on September 26, 2012 the parties decided that the ministry and Ukravtodor would inform the government about the situation and possible actions on the case.
As of January 23, these actions had been considered by the Cabinet of Ministers.
However, Ukravtodor told Interfax-Ukraine that the Cabinet has not reviewed the issue of the peaceful settlement of the dispute between the ministry, Ukravtodor and the Italian companies regarding Ukraine’s failure to fulfill the general agreement.
“But actually the claim relates to the project, which has not been implemented by the Italian side – Torno Global Contracting SPA, and most monetary claims are not confirmed by the documents,” said Ukravtodor.
