London Court dismisses bulk of Yapi Merkezi 980 million USD claim against Ethiopian Railway Corporation

The London Court of International Arbitration rejected 750 million USD of Turkish contractor Yapi Merkezi Insaat's 979.9 million USD claim against the Ethiopian Railway Corporation tied to the Awash-Kombolcha-Woldia-Hara Gebeya railway. The tribunal also ordered Yapi Merkezi to return a 29.1 million USD advance payment.