PNC Infratech’s arm receives final realization of arbitration award
18th May 2019

PNC Infratech's wholly owned subsidiary company - PNC Delhi Industrialinfra has received the realization of Rs 145.63 crore on May17, 2019 from Delhi State Industrial & Infrastructure Development Corporation (DSIIDC) towards the final arbitration award published in its favour for the project of ‘Redevelopment & Management of Narela Industrial Estate in Delhi’ on November 17, 2018.

Earlier in January 2018, the subsidiary company had received Rs 43.00 crore as an interim award from DSIIDC in the same matter; thus, the total arbitration award received by the subsidiary comes to Rs 188.63 crore. Out of the total amount Rs 129.00 crore awarded towards the six outstanding annuities and Rs 59.63 crore awarded towards interest and other claims.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.