HCC Group on Wednesday said its infrastructure arm HCON is set to receive Rs 1,259 crore from National Highways Authority of India (NHAI) following closure of outstanding disputes and claims concerning Baharampore-Farakka Highways Ltd (BFHL) and Farakka-Raiganj Highways Ltd (FRHL),
HCC Concessions Ltd (HCON), the infrastructure development arm of HCC Group, has concluded its conciliation with NHAI for all disputes concerning BFHL and FRHL, HCC said in a statement.
Two of the HCC’s special purpose vehicles — BFHL and FRHL entered into pacts with NHAI for a comprehensive closure of all outstanding disputes and claims between the parties. BFHL will receive Rs 405 crore, while FRHL will receive Rs 854 crore from the NHAI.
