Page 3 - Industrial Developments News Today

P&ID had little or nothing to show as track record of work executed in the gas sector to merit a project of that scale.

P&ID had little or nothing to show as track record of work executed in the gas sector to merit a project of that scale.

An $11 billion damages bill against Nigeria for a collapsed gas processing project which was procured by bribery has been thrown out by Londons High Court. The West African country was... -December 21, 2023 at 06:14 am EST - MarketScreener

LONDON :Nigeria is off the hook for an US$11 billion damages bill over a collapsed gas processing project that was procured by bribery after the award was thrown out by London's High Court.The West African country faced having to pay the sum – representing around a third of its foreign exchange reserves –

Nigeria has secured victory as the London court, ruled that the P&ID offshore company wielded bribery and perjury to secure a fraudulent $11.5bn arbitration award.

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A court in the United Kingdom has ordered Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million in damages and compensation

A United Kingdom Court has awarded the Nigerian Government £20 million in damages and compensation in the $11 Billion case with Process & Industrial

A UK Court has mandated P&ID Ltd to pay Nigeria £20 million as damages and compensation in the next 28 days.