Técnicas Reunidas and Samsung to receive 120 million euros in arbitration award

A consortium composed of Técnicas Reunidas (73%) and Samsung (27%) has been awarded 120 million euros by MGT Teesside following an arbitration ruling by the London Court of International Arbitration. The dispute, which originated in 2021, concerned contract termination and the execution of performance bonds.

Regarding the Sitra Refinery project, a Madrid court has lifted precautionary measures that had previously frozen the payment of 133 million euros in bonds during a dispute with Bapco. The consortium has since initiated new arbitration proceedings in London against Bapco to protect its rights while continuing negotiations to reach a settlement.

Combined, these legal developments result in a net cash outflow of 49 million euros for Técnicas Reunidas. The MGT Teesside award represents a 37 million euro profit, though 30 million euros will be allocated to an extraordinary litigation provision, resulting in a net impact of 7 million euros on results. The company stated these events do not alter its 2026 financial forecasts.