KOWEPO initiates international arbitration proceedings against India

The Korea Western Power Company (KOWEPO), which owns a majority stake in Pioneer Gas Power Plant Limited and operates the 388 MW gas-based power plant in Maharashtra, has begun international arbitration proceedings against India in Singapore for not honouring a fuel supply commitment. The development comes about a year after KOWEPO issued notices to the government seeking gas supplies within six months. It has sought about $400 million in compensation for loss and damages.