Trending News
Saudi Ports Authority adds new service at King Abdul Aziz Port...
  Daily Exim

NEWS DETAILS

Date: 18/04/2024

JN Port resolves dispute with SEZ project EPC contractor 

Jawaharlal Nehru Port Authority (JNPA) has resolved a long pending commercial dispute with the Engineering, Procurement and Construction (EPC) contractor it hired for infrastructure development works of the Special Economic Zone (SEZ), it is learnt. The dispute has been settled with the help of the Conciliation and Settlement Committee, an alternate dispute resolution mechanism set up by the Ministry of Ports, Shipping and Waterways. The settlement agreement was signed last week between the parties, which helped foreclose the contract. The Settlement Agreement reportedly contains the amount to the paid to the EPC contractor, to the subcontractors and the timeline and the amount payable to the EPC contractor to be distributed among various agencies engaged by it. JNPA will levy a penalty for delay (Liquidated Damages) from the EPC contractor and subcontractor due to delay in completion of work as per provisions of the contract, as per a report.
 
Source: Exim News Service: Navi Mumbai, April 17



Featured News

EXIM INDIA ONLINE SERVICES

APPOINTMENTS

View All

USEFULL LINKS

View All

Introduction

EXIM INDIA is a reputed and all-India recognised premier publishing house. It publishes a daily newspaper.

It publishes a daily newspaper "Exim Newsletter" from Mumbai, Gujarat and New Delhi / NCR / North India, and Exim India - 'Shipping Times' from Kolkata, Chennai, Cochin and Tuticorin for the last 46 years.

Read More

QUICK LINKS

Contact Details

Inquiry

© | Exim India. All rights Reserved.