Saudi-owned Soroof International will file a complaint against French energy giant EDF, the conglomerate chaired by Prince Bandar bin Abdullah al-Saud said on Tuesday.
The complaint would be filed in Saudi courts in the coming days to “seek remedies against the offences and harms caused to Soroof International and His highness Prince Bandar,” the company said in a statement emailed to AFP.
Soroof cited “the faulty execution by EDF” of an agreement between the two firms to create a joint venture to develop electricity projects in Saudi Arabia.
The Saudi company gave no details on the dispute out of its respect to “confidentiality” of the arbitration procedure it had filed International Chamber of Commerce.
During a visit this week to Saudi Arabia, French President Francois Hollande told a joint business gathering that France’s industrial companies can meet Saudi needs.
The French energy giant and nuclear reactor builder Areva, in partnership with Saudi Bin Laden Group, are preparing for a tender as part of Saudi Arabia’s nuclear programme.