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Pre-Ιnvestment Expenditures, Defining an Investment, and a Problem of Translations: Patel Engineering v the Republic of Mozambique

Kluwer Arbitration

Investors frequently make expenditures in the preparatory phase of an investment, such as environmental impact assessments , scientific surveys, or financial advice. PEL signed a Memorandum of Interest (MOI) on May 6, 2011 with the Ministry of Planning and Development and the Ministry of Transport and Communication (Award, para 163).