New Delhi: Engineering, procurement and construction firm SEPC Ltd on Thursday said it has settled a dispute with Hindustan Copper Ltd and bagged a Rs 72.5 crore mining project from the state-owned firm.
SEPC, which has a diversified presence across sectors such as water and municipal services, industrial infrastructure, and mining, will receive Rs 30.45 crore as a full and final settlement, marking the closure of all pending arbitration matters between the two companies.
"SEPC Ltd...announced the successful execution of a settlement deed with Hindustan Copper Ltd (HCL), concluding all inter-se claims and counterclaims arising from the arbitration proceedings," it said in a filing to BSE.
The company said that HCL has confirmed the issuance of a supplementary work order worth Rs 72.5 crore related to the ongoing vertical shaft sinking project.
This new award enhances the project's overall value and reinforces SEPC's standing as a key EPC (engineering, procurement and construction) partner in the mining infrastructure segment.
SEPC specialises in the design, procurement, construction, and commissioning of large and complex infrastructure projects across the country.
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