Shanghai: China State Shipbuilding Corporation (CSSC) has announced that its affiliated shipyard CSSC Chengxi Shipyard has filed a lawsuit against Sinovel, a leading wind power company in China, due to a payment dispute.
CSSC Chengxi has built 30 sets of windpower components for Sinovel and delivered 21, however Sinovel has been refusing to take delivery of the remaining 9 and are unable to make payment.
CSSC Chengxi has asked Sinovel to pay RMB152m in total including compensation and interest.
Sinovel is currently in the middle of a financial crisis. The company is likely to be delisted from the stock exchange next year as it expected to suffer losses for three consecutive years. [30/12/14]