Kosovo loses Arbitrazin against '%Contour Global)

Paparac, from sources close to government officials, has learned that the International Court of Arbitrazhi's ruling on the case has been made this week, but has not yet been published.

The decision is expected to be publicised within the coming days.

As it turns out, the International Court of Arbitrazhi has declared it to be the basis of the company's indictment of Controur Globalʹ against Kosovo.

By the end of 2017, Kintour Global had signed agreements with the Government of Kosovo on the construction of New Kosovo's Kosova thermal power plant.

If we did not conclude these procedures on a specific deadline, financial penalties for the party, which failed to fulfill obligations, had been preceded by contract.

Therefore, after the contract dragged on and opposition from environmentalists, the American company withdrew from construction of the thermal power plant in March 2020. A few days later, he announced he has sent Kosovo to the Arbitrazhi International Court for disrespect of the contract.

In the International Referee, Contour Global demanded compensation from the Kosovo government, worth 19.7m euros.

Under the 2017 agreement, construction of the power plant with a capacity of 500 megawatts was envisioned, which would cost 1.3 billion euros. As such, this project represented the largest foreign investment in Kosovo.

But this company had withdrawn from Kosovo, blaming Albin Kurti's Government.

The New Kosovo project cannot move forward. The political situation in Kosovo since July, the formation of a government led by a prime minister who publicly rejected the project and the government's inaction has made it impossible for the project to meet the required” obligations, a media report by Contour Global, adding that “As we have said in the past, Kosovo should be our last coal project. We will not develop coal thermal power plants in the future”, said in the company's announcement at the time.

New Kosovo's <x0 power plant” was meant to start building in 2020, while operating in 1923.

Life expectancy of the “New Kosovo thermal power plant was estimated to be 40 years.

The Contour Global Company in 2020 was attracted by plans to build New Kosovo thermal power plant with a capacity of 500 megawatts.

The Kosovo government had signed commercial agreement with the American company Contour Global for the construction of New Kosovo thermal power plant with a capacity of 500 megawatts, which would cost 1.3 billion euros.

Kosovo has more than 10 billion tons of coal and as such is the fifth country in the world for the amount of this resources, but, with all the property of lignite, Kosovo continues to face electricity shortages.