Energy, EU – Baltic States, Legislation, Lithuania
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 22:01
LEG receives EUR 9.3 mln paid by Alstom Power as compensation to Lithuania
Print version |
|---|
Alstom Power paid
the money in 2016 as ordered by a London court in a case in which
it was accused of corruption in Lithuania.
LEG, which was then named Lietuvos Elektrine (Lithuanian Power Plant), suffered the damage
during the implementation of its fuel gas desulphurization (FGD) project
between 2005 and 2009, the Lithuanian company said in a stock exchange release
on Tuesday.
LEG said it would use the money to cover part of a bank
loan taken for the FGD project.
The outstanding amount of the loan, which was later
refinanced, currently stands at 27.9 mln euros, Lietuvos Energija, the owner of LEG, told.
Lietuvos Elektrine
and Alstom Power signed a 208-mln-euro
contract in 2005.
In 2016, a British court ordered Alstom Power, which pleaded guilty to corruption, to pay a
total of 18 mln pounds in fines and almost 11 mln pounds (13 mln euros) in
damages to the Lithuanian government.
In December 2018, three former employees of Alstom and its Swedish unit were handed
prison sentences for bribing Lithuanian officials.
Alstom's energy
unit is now part of the US giant General
Electric.
«The Baltic Course» Is Sold and Stays in Business!
