PETALING JAYA: The Indian government has agreed to pay 375.32 million rupees or RM21mil to a unit of Sunway Construction Group Bhd
(SunCon) as a settlement for a previous highway contract in the state of Rajasthan.
Sunway Construction Sdn Bhd (SCSB) had, on Jan 5, entered into a settlement agreement with the National Highways Authority of India (NHAI) for “all the claims and disputes” pertaining to a contract for the East West Corridor project.
The contract was Package EW-II (RJ-9) rehabilitation and upgrading of km 406.000 to km 449.150 of NH-76 To four-lane configuration.
The settlement amount, which is inclusive of taxes, is expected to be disbursed by NHAI to SCSB within a month.
“As part of the settlement, NHAI and SCSB have mutually consented to withdraw any ongoing litigations, arbitral proceedings or conciliation proceedings,” SunCon said in the filing.
