Biwater leaves Tanzania empty-handed
- From: Vol 9, Issue 8 (August 2008)
- Category: General
- Region: Africa
- Country: Tanzania
- Related Companies: Biwater and Ofwat
The decision not to award damages to Biwater after an unlawful expropriation of assets sends a negative message to the international investment community. CEO Larry Magor talks to GWI about the outcome.
The International Centre for the Settlement of Investment Disputes (ICSID) has rejected Biwater’s USD20 million claim for damages from the Tanzanian government following the collapse of its operating lease contract in Dar es Salaam in 2005. On 24 July, ICSID found that while Tanzania’s government had violated its bilateral investment treaty with the UK on four separate counts ...
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