Reliance Infra wins arbitration award against DMRC amounting to Rs 2,950 cr

Compensation covers damage as a result of breach of obligations under concession agreement

Reliance Infrastructure (R-Infra) on Thursday won a Rs 2,950 crore arbitration award against Delhi Metro Rail Corporation (DMRC) for the alleged breach by the latter of the agreement on the Airport Express line.

Delhi Airport Metro Express (DAMEPL), a subsidiary of R-Infra, has been awarded a compensation of Rs 2,950 crore. If the interest of Rs 1,775 crore is included, the total goes up to Rs 4,725 crore, possibly the largest arbitration award, said a person close to the development.

The compensation covers damages as a result of the alleged breach by DMRC of its obligations under the Concession Agreement