Published On:May 20 2019
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PNC Infratech announces receipt of Rs. 145.63 crore towards final arbitration award in Narela Annuity Project.

PNC Infratech announces receipt of Rs. 145.63 crore towards final arbitration award in Narela Annuity Project.

PNC Infratech Limited announces the realization of Rs. 145.63 crore on 17 May 2019 by one of its wholly owned subsidiary companies - PNC Delhi Industrialinfra Private Limited (Concessionaire) from Delhi State Industrial & Infrastructure Development Corporation (DSIIDC) towards the final arbitration award published in its favour for the project of "Redevelopment & Management of Narela Industrial Estate in Delhi" on 17 November 2018.

Earlier in January 2018, the Subsidiary Company had received Rs. 43.0 crore as an interim award from DSIIDC in the same matter; thus, the total arbitration award received by the Concessionaire comes to Rs. 188.63 crore. Out of the total amount, Rs. 129.0 crore awarded towards the six outstanding annuities and Rs. 59.63 crore awarded towards interest and other claims.

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