Ralls Corp., an affiliate of China’s Sany Group Co., agreed to settle a dispute with the multiagency Committee on Foreign Investments in the U.S. over barring a planned Oregon wind farm.
The Delaware-based company controlled by Sany Group withdrew claims against President Barack Obama, while the U.S. government dismissed a lawsuit that requests Ralls to implement the president’s order, the state-owned China Central Television’s Financial Channel said on its official microblog on Thursday, citing Ralls.
An e-mail to Sany Group’s media department seeking comment wasn’t immediately answered.
Ralls sued Obama and the multiagency Committee on Foreign Investments in the U.S. in 2012 for barring the wind-farm project near an area where the Navy conducts training for bombing and electronic-combat maneuvers, and develops drones.
Obama ordered Ralls to divest all of its interests in the wind-farm project that consisted of locations near or within restricted Navy airspace. The decision marked the first overseas purchase blocked by a U.S. president on national-security grounds in 22 years.
The U.S. Court of Appeals last year ruled that Ralls must be allowed to challenge evidence the president drew on to make the decision, opening a crack in the secret process used to weigh national security risks posed by foreign investors. Sany Group, China’s biggest construction-equipment manufacturer, also makes wind turbines.
— With assistance by Feifei Shen