Bharat Road Network’s associate company in Odisha, Shree Jagannath Expressways (SJEPL) has won an arbitration award of over Rs 100 crore. It is expected that NHAI will soon release the money given the government’s stated stance of not getting into long tenure disputes and settle claims as per award of arbitration so that further investments can come into the road sector.
The Odisha project has also received refinancing sanction for reduction in interest rates, which will bring down its cost of fund by almost 3% resulting in annual savings of almost Rs 30 crore.
Bharat Road Network is a road build-operate-transfer (BOT) in India, focused on development, implementation, operation and maintenance of roads/highways projects.
