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Nama Chemicals Seeks Compensation from Al-Rawaq Consortium via Arbitration

MT Newswires·08/03/2026 02:14:03
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02:14 AM EDT, 08/03/2026 (MT Newswires) -- Nama Chemicals (SASE:2210) began arbitration against the consortium of Al-Rawaq Al-Akhdar Environmental Services and Confident Engineering International to seek compensation for the losses arising from the violation of their contracts, according to a Monday release. The consortium signed two contracts with the Saudi Arabian chemical manufacturer's unit Jubail Chemical Industries, or Jana, on Feb. 28, 2024. They were terminated in February 2025 after the consortium allegedly breached obligations and failed to take corrective actions. Additionally, Nama Chemicals' legal counsel is evaluating the contract related to the Sodium Chloride Return Water Treatment Project with a plan to start arbitration proceedings.