Afcons Infrastructure Wins ₹2.32 Billion Arbitration Award

Afcons Infrastructure Ltd said on Monday that a unanimous award was passed in favour of Transtonnelstroy Afcons, its joint venture with Russian firm Transtonnelstroy Ltd, in an arbitration case against Kolkata Metro Rail Corp Ltd. The arbitral tribunal directed Kolkata Metro Rail to pay ₹2.32 billion to Transtonnelstroy Afcons within 90 days, according to an exchange filing.

If Kolkata Metro Rail fails to pay the amount, which includes principal and interest, within the deadline, it will incur interest at 11% per annum. Afcons Infrastructure expects the order to positively impact its financial position.