Reliance Heavy Ind. to submit memorandum today, South Valley Cement says
Updated 9/2/2018 11:34:10 AM
ArabFinance: South Valley Cement (SVCE) clarified what has been published in website regarding the arbitration between the Company and Reliance Heavy Industries - RHI.
South Valley Cement asserted that RHI claims until the date of this disclosure amounting to LE160 million, however, the Company filed a counterclaim and defense memorandum that previously disclosed asking for LE430,841,638.
The Company added, the court set September 02, 2018, to receive RHI memorandum and to be reviewed on November 28, 2018, according to an arbitral timeline. Moreover, the final judgment would be ruled on February 15, 2019.
