McNally Bharat Engineering Company Ltd. has been awarded approximately Rs 19.79 Crores in an arbitration proceeding.
The arbitration was in connection with the Project ‘Ore Handling Plant (Package 01A) for IISCO under 2.5 MT New Stream Expansion’.
The award includes interest @ 18% p.a. from the date of service of notice invoking arbitration till the date of payment of such amount.
The arbitration was between McNally Bharat Engineering Company Ltd. and Steel Authority of India Limited, IISCO Steel Plant.
The notice is being uploaded on the Company website.