1. On June 12, 2009, the Claimant, International Company for Railway Systems (hereinafter “ICRS”) and Privatization Holding Company (hereinafter “PHC”) filed a joint Request for Arbitration with the International Centre for the Settlement of Investment Disputes (hereinafter “ICSID”) against the Hashemite Kingdom of Jordan. ICRS, the Hashemite Kingdom of Jordan and the Public Transport Regulatory Commission of Jordan entered into an Implementation Agreement (hereinafter “IA”) under which ICRS undertook to build, operate and transfer a light railway system (the LRS Project) connecting the Jordanian cities of Amman and Zarqa. ICRS and PHC asserted that the Respondent, the Hashemite Kingdom of Jordan, “unlawfully and in bad faith terminated the IA, thereby depriving the Claimant of the profits, privileges and the commercial opportunities they would have enjoyed had the IA continued to be performed in accordance with its terms.”1 The Secretary-General registered the Request for Arbitration on July 16, 2009. 

2. The Tribunal was constituted on December 28, 2009; its members being Judge Patrick L. Robinson, as President, Mr Stanimir A. Alexandrov and Professor Bernard Audit, as arbitrators.