Key highlights
- Borealis Kallo N.V. settled a dispute with IREM S.p.A., Techimp S.p.A., and Solesi S.p.A.
- The dispute followed Borealis' 2022 contract termination for PDH Kallo site work.
- Settlement ends arbitration, allowing both parties to move forward.
Settlement Reached
Borealis Kallo N.V. has reached a settlement with IREM S.p.A., Techimp S.p.A., and Solesi S.p.A., collectively known as the IREM Group. This settlement resolves the dispute that arose after Borealis terminated contracts in 2022 related to the PDH Kallo construction site.
Contract Termination
Borealis maintains that the contract terminations were conducted in accordance with contractual provisions and applicable law. The settlement agreement effectively concludes the arbitration proceedings between the parties.
Moving Forward
The resolution allows both Borealis and the IREM Group to move forward, closing a chapter of legal contention and enabling future progress on their respective projects.
