RInfra Secures ₹526 Crore Arbitration Award Against Aravali Power Company

Reliance Infrastructure (RInfra) on Wednesday announced winning an arbitration award of ₹526 crore against Aravali Power Company Pvt Ltd.

According to an exchange filing, Reliance Infrastructure had invoked arbitration against the wrongful termination of a contract by Aravali Power in 2018.

"The arbitral tribunal, by a majority award, has held the termination to be invalid and awarded consequential claims ₹526 crore in favour of Reliance Infrastructure," it said.

Proceeds from the award will be utilised for growth capital, RInfra said.

Reliance Infrastructure is a major player in providing Engineering and Construction (E&C) services for developing power, infrastructure, metro and road projects.