UGL: agreement reached on Ichthys CCPP claims

Ichthys CCPP consortium comprising GE and  the CH2M HILL and UGL JV reached an agreement to settle claims on the US$550 million power plant with JKC Australia LNG.

The consortium has been awarded the deal in 2012 to build the combined cycle power plant for the Ichthys LNG project in Darwin, by JKC Australia, a joint venture between JGC Corporation, KBR and Chiyoda Corporation.

UGL informed in a statement on Wednesday that the all of the consortium’s claims up to 31 August 2015 have been settled.

UGL expressed confidence to receive a US$175 million provision in relation to the project.

According to the company’s statement, the parties have agreed to extend the time for the completion of the project in order to reduce risks associated with delays to the power project.

LNG World News Staff; Image: Inpex