ONEIC to be paid US$ 5.8 mn in payment dispute against Diam
Posted on 29th October 2018
According to *Constructionweekonline news report, Oman National Engineering and Investment Company (ONEIC) will be paid $5.8m (OMR2.2m) after a court sided with the contractor in a payment dispute against the state-owned Public Authority for Electricity and Water (Diam).
The Administrative Court in Oman issued a verdict in favour of ONEIC, which claimed that Diam had not paid the company for maintenance work carried out on various contracts before 2017, according to an update on the Muscat Securities Market.
ONEIC said its claim was related to multiple delayed payments for work on undisclosed Diam projects, adding that the court ruling can be appealed again. However, it did not say whether an appeals process would be launched by Diam.
In the filing to the Muscat bourse, ONEIC said that it would keep the market informed of “any future developments” related to the case with Diam.
Meanwhile, the engineering and construction company recently won an $18.5m (OMR7.1m) contract from a subsidiary of state-owned Oman Food Investment Holiday Company, A'Nama Poultry Company, to build a complex for broiler hens, chickens typically reared for meat production.
Its scope includes building an undisclosed number of broiler sheds and related facilities for the chicken processor. All construction work should be completed during the second quarter of 2020.
*News source: http://www.constructionweekonl...Back to all Construction News
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