Bharat Road Network arm wins Rs 323 cr arbitration award against NHAI
New Delhi, Apr 1 () Bharat Road Network Monday said its arm has won an arbitration award of Rs 322.77 crore against the National Highways Authority of India (NHAI) for a project in Odisha.
The company said it had referred the matter to arbitration after NHAI failed to handover the land required for the project.
“Orissa Steel Expressway Private Limited (OSEPL), one of the subsidiaries of the company, has won an arbitration award of Rs 322.77 crore in the matter of arbitration proceedings between OSEPL and NHAI,” the company said in a regulatory filing.
OSEPL was incorporated for four/two laning of Rimuli- Roxy-Rajamunda section of NH-215 in Odisha to be executed as build, operate and transfer (BOT toll) project on design, build, finance, operate and transfer (DBFOT) pattern.
