The International Dispute Resolution Centre for Arbitration and Mediation (IDRC) in London dismissed a claim filed by Ras Al-Khaimah Investment Authority (RAKIA) against the Indian Government for damages amounting to $273 million payable by the Government of Andhra Pradesh (GoAP) consequent upon its failure to supply bauxite from Jerrela deposits located in the Eastern Ghats in Visakhapatnam district as per the Bauxite Supply Agreement (BSA) of October 2008.
With this, the GoAP scored a major victory in the IDRC as it would have otherwise had to pay the amount to the Government of India (GoI). India is a party to the dispute by virtue of signing a Bilateral Investment Treaty (BIT) with the United Arab Emirates (UAE) for the construction of an alumina refinery by Anrak Aluminium Limited (ANRAK) incorporated by RAKIA.
