The Iraqi Ministry of Justice announced on Tuesday that it successfully resolved a $1 billion arbitration dispute with a German company, AHG, concerning a contract for the rehabilitation and operation of the Kirkuk Cement Plant.
In a statement, the ministry revealed that the dispute was settled in favor of Iraq after the International Centre for Settlement of Investment Disputes (ICSID) dismissed the lawsuit filed by AHG, which sought compensation for $1 billion. The dispute also involved Middle East and Salah Al-Din Holding companies.
Haitham Mohi Radi, Director General of the Ministry’s Legal Department, explained that the ministry had been actively pursuing the case since 2018, engaging in extensive legal proceedings and hearings. The tribunal’s ruling dismissing AHG’s claims marks a significant legal victory for Iraq and underscores the Ministry of Justice’s efforts to protect the country’s rights in international judicial forums.