16.10 Swiss Court Orders Tajik Plant to Pay Russian Company $275M
MOSCOW, October 16 (RAPSI/PRIME/RIA Novosti) A Swiss court has ordered Tajik Aluminum Company (Talco) to pay Rusal subsidiary Hamer Investing Ltd. $275 million plus fees, a Rusal statement released Wednesday says.
The court backed Hamers claim that the Tajik company had breached supply agreements made in 2003, and rejected Talcos $400 million claims against the Russian company over corruption allegations, Reuters reported.
The compensation Talco is to pay includes $112.7 million to cover the cost of aluminum oxide and other materials that Hamer supplied in 2003, $147 million in lost profits and $14.56 million in legal fees.
Rusal is a leading global aluminum producer. It accounted for roughly 10 percent of the world's aluminum and alumina production in 2010.
