Enka- InterGen Izmir

The Council of Ministers Takes a Decision on Principle Regarding the Izmir Power Plant. During the meeting held with Enka-Intergen on August 25, MENR officials have indicated that the result of the lawsuit filed with the Council of State seemed to be the annulment of the contract considering the judgment for stopping the enforcement of the contract, and added that they would not make any payment if the contract were annulled. Enka-Intergen has reminded of the guarantees provided by the Treasury in such a case and that they would have to apply to international arbitration if payments were to be stopped...