Pemex paying $295 million in dispute with Siemens

Reuters – Pemex reached a $295 million settlement with a group including German industrial conglomerate Siemens in a longstanding dispute over a refinery project. The dispute involved Conproca, a Mexican joint venture between Siemens and South Korea’s SK Engineering & Construction, which was created to bid for the reconfiguration of its Cadereyta refinery in the northern state of Nuevo Leon.

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