Particle.news
Download on the App Store

CIADI Cuts Argentina’s Webuild Award by 20% to US$117.6 Million

The reduction followed a June 11 rectification request by the Procuración del Tesoro.

Overview

  • CIADI’s ruling lowers the indemnity from US$147 million to US$117.6 million, yielding savings of about US$29.4 million, or roughly ARS 42,000 million at the official rate.
  • The case stems from the Rosario–Victoria toll concession and 2001 crisis measures that dissolved Puentes del Litoral and prompted an arbitration by Impregilo, now Webuild.
  • The Procuración del Tesoro, led by Santiago Castro Videla, sought the rectification on June 11 and characterized the outcome as a concrete improvement against inherited claims.
  • Despite this relief, Argentina was ordered in June to pay US$715.9 million to AES over the Alicurá hydropower concession, leaving significant arbitration exposure.
  • Reporting notes at least six other active CIADI cases totaling about US$1.5 billion, excluding the separate YPF dispute with claims exceeding US$18 billion.