Duro Felguera has suffered the «unexpected» execution of guarantees on the part of Sonelgaz-Production d’Electricité in the project for the construction of a combined cycle power plant in Djelfa (Algeria) for 54.8 million eurosaccording to the information sent to the National Securities Market Commission (CNMV). The Asturian firm explains that «the client, unexpectedly, while the parties held negotiations to resolve the project, has proceeded to execute guarantees for an amount equivalent to 54.8 million euros. However, it highlights that «This contingency was foreseen in the restructuring plan approved by the creditors and, therefore, does not represent an alteration in the process for its judicial approval.» «In any case, The company states that it will carry out all the actions that are necessary to defend its rights. both as a result of the execution of the guarantees and in the ongoing arbitration procedure and other claims,» he details.
