Punj Lloyd wins arbitration award worth Rs 34 crore

14 Mar 2019

Punj Lloyd has won an arbitration award worth over $4.98 million (about Rs 34 crore) with respect to a project in Maharashtra. The arbitration award pertained to Heera Redevelopment Project. 

The Arbitration Tribunal in the matter of Punj Lloyd & Anr vis Oil & Natural Gas Corporation in respect of Heera Redevelopment Project, has given an award in favor of Punj Lloyd for an amount of $4,985,866.37 with interest at 9 percent p.a. from due date till the date of payment/ realization.

Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.

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