Brazil’s Federal court has annulled a two-year ban imposed on Saipem’s two business units on from contracting with the Brazilian public administration.
The decision to prohibit Saipem’s two businesses was taken due to alleged irregularities in the award of a contract related to gas pipelines, dating back to 2011.
According to Saipem, the court upheld the grounds of appeal formulated by the two companies' defenses.
Since this is a ruling nullifying an administrative measure, under Brazilian law, an appeal phase must now follow, during which the effects of the annulment ruling are suspended.
“Saipem SA and Saipem do Brasil will continue to take all necessary steps to ensure the protection of their interests in the continuation of the proceedings,” Saipem said in a statement.
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