Bharat Road Network’s subsidiary -- Orissa Steel Expressway (OSEPL) has won an arbitration award of Rs 322.77 crore in the matter of arbitration proceedings between OSEPL and National Highways Authority of India (NHAI) for a project in Odisha. The project was foreclosed majorly due to delay in handing over of the requisite land from NHAI. Consequently, OSEPL had referred the matter to arbitration for settlement of its claims.
OSEPL was incorporated for four/two laning of Rimuli- Roxy-Rajamunda section of NH-215 in Odisha to be executed as build, operate and transfer (BOT toll) project on design, build, finance, operate and transfer (DBFOT) pattern. The project fell under the National Highways Development Project (NHDP) phase-III and OSEPL had signed a concession agreement with NHAI on July 6, 2010.
Bharat Road Network is an infrastructure company. It is engaged in the development and implementation of important roads and highways. The firm caters to the requirements of build–operate–transfer sector.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4039.00 |
| Rail Vikas Nigam | 295.75 |
| NCC | 160.00 |
| KEC International | 559.65 |
| Kalpataru Projects | 1233.80 |
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