Southern Cross Electrical Engineering (ASX:SXE) subsidiary, Heyday, filed a notice of arbitration and statement of claim against CPB Dragados Samsung joint venture (CDSJV) for extra costs incurred during its work on the WestConnex M5 motorway tunnel project in Sydney, New South Wales, according to a Monday filing with the Australian bourse.
CDSJV is an unincorporated joint venture consisting of CPB Contractors, Dragados Australia, and Samsung C&T.
The company claims that Heyday failed to meet the agreed timetable due to CDSJV's mismanagement of the project, resulting in substantial completion not achieved until mid-2020, the filing said.
Heyday is claiming AU$22 million from CDSJV, including costs from the delay and disruption to the project, indirect costs, other unpaid variations, and related sums.
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