PNC Infratech accepts ₹235-crore NHAI settlement offer for Agra bypass project
PNC Infratech accepted a ₹234.72 crore settlement offer from NHAI under the Vivad-se-Vishwas III scheme for the Agra bypass project.Summary
Construction engineering company PNC Infratech Ltd accepted a settlement offer of ₹234.72 crore from the National Highways Authority of India (NHAI) under the Vivad-se-Vishwas III (Contractual Disputes) scheme. The offer relates to an arbitration award of ₹485.27 crore issued in favour of the company for the EPC project 'Construction of Balance work of new four lane Agra Bypass in the state of Uttar Pradesh (Contract Package NS-I/UP-1A).' The settlement includes 45% of the arbitration award plus 9% per annum simple interest calculated up to April 30, 2026, with an additional interest for five days. PNC Infratech stated that the settlement will be formalised through an agreement between NHAI and the company, with payment to be made within 30 days of signing. The company expects to receive approximately ₹234.99 crore, including the interest. Shares of PNC Infratech Ltd ended at ₹215.50 on the BSE, up by 0.16%.
(Source：Cnbctv18)