The two companies claimed that the Egyptian State has violated its international obligations stipulated in a bilateral investment agreement that has been concluded between Egypt and Spain, after it took measures that have allegedly caused damage to the two companies’ investments in Egypt, especially their shares in the Arabian Cement Company.

Issued on October 30, ICSID's ruling came after seven years of arbitration proceedings.

It is another victory achieved by the State Lawsuits Authority in international arbitration cases.