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.