SIECO to recover SAR 14 mln by court order

10/12/2017 Argaam

 

Saudi Industrial Export Co. (SIECO) on Thursday received a favorable initial court ruling to recover insurance fees of SAR 14.05 million from Afia International Co., SIECO said in a statement.
 

The dispute is related to a deal in June 2013 where SIECO and Shahd Al Sahraa’s joint-venture agreed to distribute Afia’s products in South Jeddah and East Riyadh.

 

Later in February 2016, Afia cancelled the contract on low returns and delayed deliveries.

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