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Perdaman seeks A$3.5 bln in damages from ICICI Bank in coal case

Source : REUTERS
Last Updated: Thu, Jan 10, 2013 05:40 hrs

Jan 10 (Reuters) - Australia's Perdaman Chemicals and Fertilisers said it has launched a damages claim against India's ICICI Bank seeking A$3.5 billion in its ongoing legal battle with India's Lanco Infratech over a stalled fertiliser project.

The comapany said in an email that it had filed its application in federal court in Perth, Australia, on Jan. 2.

The dispute centres around a coal supply deal for Perdaman's proposed coal-to-urea project in Western Australia.

Lanco and ICICI did not have immediate comment.

(Reporting by Sonali Paul in MELBOURNE and Tony Munroe in MUMBAI)




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