ETA Star International, an Emirati contractor, seeks about $100M from Angola at ICSID under the 2017 Angola-UAE investment treaty. It alleges that Angola failed to pay for the construction of a cement plant. ICSID registered the case on May 19, 2025, after mediation failed, and the tribunal, chaired by Pierre Bienvenu, was constituted on July 6, 2026.
Latest development Jul 6, 2026
On July 6, 2026, the ICSID tribunal was constituted with Pierre Bienvenu as president, chosen by his co-arbitrators. Georges Affaki was appointed by ETA Star and Hugo Perezcano Díaz by Angola.
Why it matters
Angola, one of the newest signatories to the ICSID Convention, faces its second ICSID claim, according to the Kluwer Arbitration Blog. The case tests whether a contractor can use an investment treaty to recover payment it says Angola owes for a plant completed over a decade ago.
Background
ETA Star International LLC is an Emirati company. A Dubai company named ETA Star built the Fábrica de Cimento do Kwanza Sul, a cement plant at Sumbe in Angola’s Kwanza Sul province. CemNet reported that the plant was inaugurated in May 2014.
On October 24, 2024, ETA Star served a notice of dispute on the Republic of Angola under the 2017 Angola-UAE bilateral investment treaty (BIT). In November 2024, Global Arbitration Review reported that an Emirati contractor was threatening a claim of more than $100M against Angola at the International Centre for Settlement of Investment Disputes (ICSID). The dispute concerned a post-civil war project, completed more than a decade earlier, to build the country’s first major cement plant. Public reports on the arbitration do not name the plant. In January 2025, Global Arbitration Review reported that the investor had sought mediation under the ICSID Mediation Rules, aiming to settle by April.
After the mediation failed, ICSID registered ETA Star’s request for arbitration on May 19, 2025, as ICSID Case No. ARB/25/21. According to a May 2026 post on the Kluwer Arbitration Blog, the claim arises from Angola’s alleged failure to pay $100M for the construction of a cement plant.
Georges Affaki accepted appointment as ETA Star’s arbitrator on August 19, 2025, and Hugo Perezcano Díaz as Angola’s on September 8, 2025. Pierre Bienvenu, chosen by his co-arbitrators, accepted appointment as president on July 3, 2026. The tribunal was constituted on July 6, 2026. Derains & Gharavi acts for ETA Star. Angola is represented by the Civil Office of the President of the Republic, CFA Advogados, and Vieira de Almeida.
Timeline 10 events
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OrderTribunal is constituted with Pierre Bienvenu as president
Pierre Bienvenu, chosen by his co-arbitrators, accepted his appointment as president on July 3, 2026. The tribunal was constituted on July 6, 2026.
ICSID case pageIAReporter: Pierre Bienvenu set to chair ICSID tribunal in cement plant dispute with Angola
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OtherICSID caseload report cites ETA Star case among African claims
ICSID’s annual caseload report noted a record 15 cases registered against Sub-Saharan African states in 2025, including Angola’s second ICSID claim in the ETA Star case.
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OrderHugo Perezcano Díaz accepts appointment as Angola’s arbitrator
Hugo Perezcano Díaz accepted his appointment as arbitrator by the respondent.
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OrderGeorges Affaki accepts appointment as ETA Star’s arbitrator
Georges Affaki accepted his appointment as arbitrator by the claimant.
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FilingGlobal Arbitration Review reports ETA Star filed claim after mediation failed
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FilingICSID registers ETA Star’s request for arbitration against Angola
The Secretary-General of ICSID registered the request as ICSID Case No. ARB/25/21 after mediation failed. Global Arbitration Review reported the claim at $100M.
ICSID case pageGlobal Arbitration Review, May 21, 2025italaw case page
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OrderETA Star opts for ICSID mediation with Angola
Global Arbitration Review reported that the investor sought mediation under the ICSID Mediation Rules, aiming to settle the dispute by April 2025.
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OrderETA Star seeks mediation with Angola
Global Arbitration Review reported on January 9, 2025, that the investor had sought mediation with Angola, aiming to settle the dispute of more than $100M by April.
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OtherGlobal Arbitration Review reports ETA Star threatens ICSID claim
Global Arbitration Review reported that the UAE contractor was threatening a claim of more than $100M over the cement plant project.
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OrderETA Star serves a notice of dispute on Angola
ETA Star notified Angola of a dispute under the 2017 Angola-UAE bilateral investment treaty. Global Arbitration Review reported on November 5, 2024, that an Emirati contractor was threatening an ICSID claim of more than $100M.
Jus Mundi: ETA Star v. Angola, notice of dispute, October 24, 2024Global Arbitration Review, November 5, 2024
Experimental AI forecast
How it is madeBy December 31, 2027, will the ICSID tribunal in ETA Star v. Angola bifurcate the proceedings to hear Angola’s preliminary objections first, or will the case proceed on a single track?
- Case proceeds without bifurcation50%
- Tribunal bifurcates Angola’s objections30%
- ETA Star and Angola settle or discontinue12%
- Still pending on December 31, 20278%
- Resolves by
- Dec 31, 2027in 14 months
- Record confidence
- Low
The case most likely proceeds without bifurcation by December 31, 2027 (50%). Under typical ICSID timetables, a bifurcation question should be settled by mid-2027. Angola has plausible jurisdictional objections, but tribunals deny or are never asked to bifurcate in most cases.
How it resolves. Resolves on the ICSID case details page, procedural orders, or reliable arbitration press. “Tribunal bifurcates” if, by December 31, 2027, the tribunal has ordered a separate preliminary phase on jurisdiction or admissibility. “Case proceeds without bifurcation” if a procedural order or timetable shows jurisdiction joined to the merits, either because Angola sought no bifurcation or because the tribunal denied it. “Settles or is discontinued” if the proceeding is discontinued or an award embodying a settlement issues before either event. “Still pending” if a bifurcation request remains undecided on that date.
Reasoning
Starting point. ICSID treaty cases in which respondents seek bifurcation of preliminary objections: Respondents seek bifurcation in roughly half of ICSID cases. Tribunals grant about 40% to 50% of requests. About 30% to 35% of ICSID cases end by settlement or discontinuance overall.
The tribunal was constituted on July 6, 2026, so the first session, a memorial, and any bifurcation request should fall within this window. Base rates suggest roughly half of respondents request bifurcation and tribunals grant a minority of those requests. Angola has evident objections to raise. A construction contractor’s unpaid-price claim invites arguments that it is a contract claim rather than a treaty claim, and that it is not a protected investment. The plant was completed in 2014, before the 2017 treaty, which supports a temporal objection. These points raise the chance that Angola requests bifurcation to about two in three. Tribunals often join such fact-bound objections to the merits, however, which keeps the bifurcation outcome near 30%. The failed 2025 mediation shows the parties already tried settlement, but state payment disputes sometimes settle once a tribunal is in place, so settlement stays at 12%. The record contains no procedural orders yet, which limits confidence.
Likely temporal and contract-versus-treaty objections by Angola · Tribunals often join fact-bound objections to the merits · Failed 2025 ICSID mediation lowers near-term settlement odds · No procedural order or timetable yet in the record
Generated automatically by Claude Opus 5.5 on Oct 19, 2026 from this case’s record on this site, and published without editorial review. The probabilities are the model’s judgment, not measured frequencies, and they are scored publicly as cases resolve. Not legal or investment advice. How the forecasts are made