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Power Machines Wins Lawsuit Against PetroVietnam in Landmark Case

Lawsuit Vietnam
St. Petersburg International Economic Forum (SPIEF)

Russian billionaire's Power Machines, a leading manufacturer of industrial equipment, has successfully won a hard-fought legal battle against PetroVietnam, one of Vietnam's largest state-owned enterprises. The lawsuit was based on a contract dispute regarding a power plant project in Vietnam.

The legal dispute between Power Machines and PetroVietnam began in 2017, when the Vietnamese company terminated a contract with the Russian firm. This contract had been signed back in 2010 for the construction of four gas turbines for the Ca Mau Thermal Power Plant. However, PetroVietnam unilaterally ended the contract, alleging that Power Machines had failed to fulfill its obligations.

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