Oz firm seeks A$3.5 bn in damages from ICICI Bank

Dispute centres around coal supply deal for Perdaman's proposed coal-to-urea project in Western Australia

Australia's Perdaman Chemicals and Fertilisers said it has launched a damages claim against ICICI Bank seeking A$3.5 billion in its ongoing legal battle with India's Lanco Infratech over a stalled fertiliser project.

The comapany said in an email that it had filed its application in federal court in Perth, Australia, on January 2.

The dispute centres around a coal supply deal for Perdaman's proposed coal-to-urea project in Western Australia.

Lanco and ICICI have not yet commented on the matter.