Borealis Kallo confirms that it has reached a settlement with IREM, Techimp, and Solesi (collectively referred to as the IREM Group) regarding the dispute that arose following Borealis’ termination of contracts in 2022 for work on the PDH Kallo construction site.

Under the terms of the settlement, Borealis maintains its position that the termination of the contracts was carried out in accordance with the contractual provisions and applicable law. The settlement will bring the arbitration proceedings to a close and allows both parties to move forward.

This resolution reflects Borealis’ commitment to integrity, compliance, and constructive engagement.