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25 Dec, 2025
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EuroChem seeks enforcement in India of award against Maire and MT Russia

EuroChem Severo-Zapad-2 (ECSZ-2) has applied to an Indian high court for recognition and enforcement of an award by the Moscow Arbitrazh (Commercial) Court (MAC) on joint and several recovery of more than RUB 171 billion from the Italian company Tecnimont and its Russian subsidiary MT Russia (part of the Maire group). This was announced by EuroChem in a press release.

In November, the MAC ordered the recovery of RUB 171 billion jointly from Tecnimont and MT Russia in unearned advances, interest thereon, and losses due to failure of a project to build an ammonia and urea production facility in Kingisepp (Leningrad Region).

"The application to an Indian jurisdiction is being made under procedures provided for by international law. The Russian Federation and the Republic of India are bound by a 3 October 2000 bilateral agreement on judicial cooperation in civil and commercial matters which provides for the possibility of recognition and enforcement of court decisions," ECSZ-2 said.

The company added that it is currently exploring the possibility of applying to other jurisdictions where the Maire group has a presence, including the CIS, BRICS, Africa and the Middle East.

EuroChem previously stated that Maire had breached its contractual obligations by failing to complete construction of the plant, citing sanctions as a "convenient excuse," even though "they were already behind schedule and over budget."

In 2020, EuroChem and Tecnimont signed a contract for the design and construction of an ammonia and urea production plant in Kingisepp. In August 2022, ECSZ-2 announced it was terminating the contract, citing the contractors' refusal to fulfil their obligations. Tecnimont and MT Russia then initiated international arbitration proceedings in London against the client, ECSZ-2, which filed a counterclaim.

 

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