Deals15 Oct 2023, 02:42 am
Hitachi Energy India Ltd Wins Contract for 3 Nos 132/33 KV Indoor GIS Substations
AI Summary
Hitachi Energy India Ltd has been awarded a contract for 3 Nos 132/33 KV Indoor GIS Substations by Madhya Pradesh Power Transmission Corporation Limited (MPPTCL). The company has filed an arbitration petition under section 9 of the Arbitration and Conciliation Act, 1996 before District Court Jabalpur to protect its Bank Guarantees and recover its claims. The expected financial implications are INR 12.72 Crores and Bank Guarantees of INR 18.78 crores due to compensation, penalty etc.,
Key Highlights
- Awarded contract for 3 Nos 132/33 KV Indoor GIS Substations
- Filed arbitration petition to protect Bank Guarantees and recover claims
- Expected financial implications of INR 12.72 Crores and Bank Guarantees of INR 18.78 crores