The Korea Herald

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GE seeks US$20m compensation from S&TC

By 윤정현

Published : Aug. 11, 2016 - 17:20

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[DISCLOSURE] GE filed a compensation claim worth US$20 million against S&TC (100840) regarding Ichthys liquefied natural gas project, the company announced on Aug. 11.

S&TC explained that it signed a 42.2 billion won (US$38.35 million) supply contract with GE to supply heat recovery steam generators and delivered the requested products on time.

“GE is asking for compensation 2 years past the delivery. If GE takes this matter to arbitration, we will take legal action against them,” the company added.