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JSPL slaps Rs 123 crore ‘liquidated damages’ notice on BHEL for project delays: Report

21 Mar 2016 Evaluate

Jindal Steel and Power (JSPL), one of the largest players in steel market in India, has reportedly slapped a Rs 123 crore notice on Bharat Heavy Electricals (BHEL), regarding delays in execution of projects at two units of JSPL’s 2,400 MW coal-based plant. BHEL is executing the boiler, turbine and generator (BTG) packages for all the four units of the plant. The total contract value, with each BTG unit costing Rs 150 crore, is Rs 600 crore. JSPL invoked the contractual clause titled ‘liquidated damages’.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

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