EconomyFinancialAnother one: The CFE loses an arbitration process against...

Another one: The CFE loses an arbitration process against the Spanish company Duro Felguera

The state-owned CFE lost another arbitration process that began during the past six-year term and for which it has been ordered to pay close to 22 million dollars.

The International Court of International Arbitration in London ruled against the state company in the process it faced with the private company Duro Felguera for a contract for the construction of the Empalme II combined cycle power plant, according to a report by the specialized media outlet Ciar Global.

The court ruled that the state company breached a contract awarded in 2015.

According to Ciar Global, the ruling came after the court rejected a counterclaim process initiated by the CFE.

Duro Felguera is a Spanish company specialized in the construction of projects for the electricity and oil sectors.

The consortium made up of the Spanish companies Duro Felguera and Elecnor signed a contract with the CFE in 2015 for the construction of the plant, which at that time was valued at 397 million dollars.

This is the second process lost by the CFE that has been released in recent weeks.

The Reuters agency recently announced that for which he had to pay 85 million dollars.

Neither of the two processes date from this six-year term, but rather began during the past administration. The CFE, according to its financial reports, has around 21 open arbitration processes, but has not given more details about them.

, as revealed by Expansión .

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