ELEM to receive 2 million euros in damages from Riko Group – Macedonia, 7 June 2017

Director General of Macedonian state-owned power utility ELEM Kristijan Mickoski said that he is pleased with the positive outcome of the arbitration process with Riko Group, the selected contractor for hydropower plant Sveta Petka project.
According to Mickoski, it was ruled that Riko Group has to pay 2 million euros in damages to ELEM, meaning that the power utility has to return only 3.6 million euros of 5.6 million euros guarantee received from the Slovenian company.

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