PNC Infratech Wins ₹4.85 Billion Arbitration Award From NHAI Over Agra Project

PNC Infratech Ltd announced today it has been awarded ₹4.85 billion in an arbitration dispute with the National Highways Authority of India (NHAI). The Arbitration Tribunal has directed NHAI to pay the amount plus interest at 12% per annum until full payment is completed.

The award relates to an engineering, procurement and construction contract for part of the Agra bypass in Uttar Pradesh.
PNC Infratech had filed a claim of ₹6.62 billion in June 2019, which included interest up to Aug 8, 2024. NHAI responded with a counterclaim of ₹385.2 million plus interest.