Foster Wheeler, which renovated two power blocks for Estonia's Narva Elektrijaamad (Narva Power Plants), submitted a commercial dispute to the London court of arbitration over 38 million euros in renovation costs. Narva Power Plants presented its own claim to Foster Wheeler 's nearly 40 million euros for a contract violation and damage compensation. Refusing to accept Foster Wheeler's claim, the power plant has continued to demand compensation from the renovator for breaking deadline and violating contract terms.
Hermis Capital, an investment company, might invest around 300 million litas (87 million euros) into various projects in Ukraine, where it opened an office last year. "We are interested in those sectors where we have some experience, but we may modify our plans in view of the Ukrainian market potential and the unique specialization of certain business areas," director Darius Janulevicius said.
