DNG Energy, which was seeking to supply power from gas-fired plants, had its application to halt the process dismissed and was ordered to pay legal costs, according to a judgment distributed by South Africa’s High Court on Sunday.
“The demonstrable reason for DNG’s unsuccessful bids was because it failed to meet a myriad of qualification criteria,” Judge Joseph Raulinga said in his judgment. The company also submitted additional documents without getting the correct permission from the court, he said.“I believed in the merits of our case and we will study the judgment,” DNG Chief Executive Officer Aldworth Mbalati said in an interview. “If we believe there are merits for an appeal we will appeal.
Still, while the first contracts were awarded in March 2021 and power was expected to be supplied by August this year, the delays caused by the lawsuit mean that deadline is now likely to be missed. While the government-imposed deadline for concluding the financing arrangements was set for Monday, it has now been extended until the end of March.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: City_Press - 🏆 7. / 72 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »