Nova Chemicals, the Canada-based subsidiary of Abu Dhabi investment fund Mubadala, has been ordered by an Alberta court to pay US firm Dow Chemical C$1.43bn ($1.08bn) in compensation for lost revenues from a joint venture ethylene plant in Joffre, Alberta.
Dow says the Court of the Queen’s Bench in Alberta found that Nova failed to operate the ethylene plant at full capacity for more than 10 years and violated a number of agreements related to Dow’s share of ethylene production. (CONTINUED - 348 WORDS)
