Reliance Infrastructure bags Rs 16.14 crore arbitration award against NHAI


Reliance Infrastructure bags Rs 16.14 crore arbitration award against NHAI

Reliance Infrastructure has bagged a Rs 16.14 crore arbitration award against National Highway Authority of India, a small win for the company which has Rs 8,000 crore of claims with different government agencies.

With this win, Reliance Infrastructure has won a total of six arbitration awards amounting to around Rs 6,300 crore in cases of Delhi Metro Rail Corporation (DMRC), Goa Power Plant and NHAI Roads. The company now has over Rs 8,000 crore of claims under advanced stages of arbitration for engineering, procurement and construction (EPC) projects, Mumbai Metro and road jobs, a company statement said.

Reliance Infrastructure said Tuesday that a three-member arbitration tribunal ordered NHAI to pay Rs 16.14 crore by February 10, 2019 to the company. NHAI will have to pay interest of 12% per annum on the amount if it does not pay by the deadline. Read More

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