GPT Infraprojects’ subsidiary - Jogbani Highway (JHPL) has been awarded a claim of approximately Rs 62 crore by the 3 member Arbitral Tribunal unanimously. The claim covers the equity invested in the project and also termination payments (on equity), compensation, legal costs and interest.
JHPL had entered into a Concession Agreement on July 12, 2010 with National Highways Authority of India (NHAI) for Rehabilitation and Upgrading of existing intermediate roads to 2 lane with paved shoulders of Forbesganj - Jogbani (Km 0.000 to Km 9.258) on NH 57A in the state of Bihar under NHDP Phase III on DBFOT basis having a Concession period of 15 years including construction period of 2 years from the Appointed date. The Concession Agreement was terminated by JHPL due to non availability of land from NHAI even after delay of about 30 months and also due to other local hindrances.
GPT Infraprojects, the flagship company of GPT Group, is a premier infrastructure company based out of Kolkata. GPT, incorporated in 1980, operates through two segments – Infrastructure and Sleepers.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4050.00 |
| Rail Vikas Nigam | 296.30 |
| NCC | 160.45 |
| KEC International | 559.60 |
| Kalpataru Projects | 1240.45 |
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