Arabtec Holding and a Malaysian engineering firm are seeking compensation for a Dubai racecourse construction contract that was cancelled last month, an executive at one of the firms said.
Riad Kamal, the chief executive of Arabtec, said the two firms had entered arbitration with their former client, Meydan Group, to settle the dispute. “We’ve started arbitration proceedings,” he said.
Meanwhile, WCT, the engineering firm, announced to the Malaysian bourse that it was initiating a civil legal challenge on top of the arbitration proceedings against Meydan for “breach of contract”.
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