Economy

Builder Heijmans draws the short straw in conflict with TenneT | Financial

An interim judgment in the arbitration case between the parties shows that TenneT acted lawfully when the contract with the consortium of Heijmans and the German company Europoles was torn up.

According to Heijmans, there was a difference of opinion about the project. At the time, TenneT stated in a statement that the consortium of Heijmans and Europoles did not meet the contractual obligations regarding quality and the set date for commissioning.

The interim judgment comes as a surprise to Heijmans. The company states in the recently published annual report that the issue would not burden the company with additional costs. Heijmans has also not yet set aside any extra money to seal the matter. The builder is very disappointed and Heijmans is considering further steps.

Partnership

The contract was worth 250 million euros with a term of four years. In addition, Heijmans accounted for a 60 percent interest in the partnership and Europole received the rest. The new masts were to be installed on the planned high-voltage routes Eemshaven-Vierverlaten and Borssele-Rilland. Heijmans was responsible for the construction of the foundations and Europoles for the masts.

TenneT had previously offered to reach an amicable settlement. But that led to nothing, after which the parties submitted claims back and forth. The amount of the ultimate compensation will be determined in the remainder of the procedure. Heijmans expects to be able to provide more information about this when the half-year figures are published.

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