PNC Infratech Ltd. has secured an arbitration award of ₹244.09 crore in its favour in a dispute with the Uttar Pradesh Public Works Department (UP PWD) related to an EPC road project on National Highway-29E. The arbitral tribunal has directed UP PWD to pay the awarded amount within six months from the date of the award, failing which the amount will attract 9% annual interest until payment is made.
The dispute arose from the rehabilitation and upgradation of the Sonauli–Gorakhpur section (Km 0.000 to Km 80.000) of NH-29E in Uttar Pradesh, executed under the National Highways Development Project (NHDP) Phase-IV. Differences over contractual claims during project execution were referred to arbitration, which has now been decided in favour of PNC Infratech.
The arbitration proceedings were heard by a tribunal comprising former judges of the Supreme Court of India, which upheld the company’s claims and directed the state authority to settle the dues within the stipulated timeframe. The award is expected to have a favourable financial impact on PNC Infratech upon realisation of the amount.
PNC Infratech stated in its regulatory filing that the award reinforces its contractual position and reflects the resolution of a long-pending claim arising from project execution. The company remains engaged in the development of highways, expressways, bridges, airport infrastructure and industrial projects across India.
