Sanitek sues Armenia for "tens of millions of dollars"December 16, 2020 - 17:16 AMT PanARMENIAN.Net - Waste management company Sanitek has filed a lawsuit with the International Centre for Settlement of Investment Disputes (ICSID), demanding reimbursement of tens of millions of dollars for its investments in Armenia, according to a statement from the company's management. A number of criminal cases have been "unlawfully" initiated against the company, which have not been terminated yet, the statement said. Besides, it added, the Mayor of Yerevan has instructed the prosecutor's office and investigative bodies to terminate contracts with Sanitek, with the aim of granting the agreements to a company owned by the municipality. "In addition to the fact that the property illegally confiscated from Sanitek has been transferred to a newly-established company, the Yerevan Municipality is now spending at least 20 percent more money organizing the same services through its own company, without paying taxes, as evidenced by numerous publications. These actions result in the expropriation of Sanitek's investment," the company said. "As a result, Sanitek group of companies was forced to cease operations and go bankrupt, which led to negative consequences for the company's shareholders." Sanitek said the authorities have rejected any cooperation, leaving the company "no choice but to file a lawsuit against Armenia at the International Center for the Settlement of Investment Disputes (ICSID), demanding reimbursement of tens of millions of dollars of investment". In the summer of 2018, mountains of garbage were a common scene in the streets of Yerevan, with residents complaining and posting pictures of bad waste management practices in the Armenian capital. Numerous warnings from the city authorities about the need to organize sanitary cleaning of the capital yielded practically no results. The early termination of the contract between the city administration and Sanitek was first reported in October 2019. Top stories The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. From September 21 to November 11, a total of 2,820 Russians registered at a place of residence in Armenia, the police has said. The situation on the contact line between Karabakh and Azerbaijan was relatively stable overnight, the Defense Army says. Defense Minister Suren Papikyan has visited the southern Armenian province of Syunik, the Defense Ministry reported on March 18. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |