Shipbuilder, Privinvest group, has begun arbitration proceedings against three state-owned Mozambican companies.
The group is seeking compensation for losses it incurred after contractual breaches.
Privinvest is taking this legal route in response to charges against employees, alleging that t about $200 million was stolen in Mozambique-loan proceeds, which stems from a hidden debt scandal.
Prinvinvest spokesperson, Jeffery Birnbaum, says the company is now targeting the state-owned entities for breaching supply agreements.
Although the Mozambique office of the Attorney- general is yet to comment on this, Birnbaum says for about three months now, Privinvest has been silent in the face of a false narrative about its activities in Mozambique and it doesn’t wish to continue to be silent
Copyright: News Central TV
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.