Cemindia Projects Initiates Arbitration Against Inland Waterways Authority over Haldia Terminal Project
Cemindia Projects Limited, formerly ITD Cementation India Limited, has initiated arbitration proceedings against the Inland Waterways Authority of India regarding a dispute stemming from a project contract awarded by the Ministry of Shipping.The company had entered into a contract with the Inland Waterways Authority of India for the Engineering, Procurement, and Construction of a multi-modal IWT Terminal at Haldia, West Bengal. Due to disputes arising between Cemindia Projects Limited and the Client, the company moved to arbitration after initiating proceedings via a letter dated June 18, 2026.
The Arbitration Tribunal was constituted on July 30, 2026, to handle the matter. The tribunal comprises Retd. Justice Devi Prasad Singh, Former Judge of the Allahabad High Court at Lucknow, as the Presiding Arbitrator. Co-Arbitrators appointed are Shri Sanjay Kumar, Former Director (Operations) of Kamarajar Port Ltd., and Shri S. Soundararajan, Former Chief Engineer of Chennai Port.
The dispute centers on several issues, including the payment of certified and uncertified bills, claims regarding additional works executed, prolongation costs, interest on delayed payments, and the release of retention money. The matter involves a claim by Cemindia Projects Limited (the Claimant) against the Project Director (Jal Marg Viikas Project) of the Inland Waterways Authority of India (the Respondent).
Key details regarding the ongoing arbitration dispute are summarized below:
| Particulars | Detail |
|---|---|
| Opposite Parties | Project Director (Jal Marg Viikas Project), Inland Waterways Authority of India (Ministry of Shipping, Government of India) |
| Arbitration Tribunal Constitution Date | July 30, 2026 |
| Dispute Details | Payment of certified and uncertified bills, Claims on additional works executed, Prolongation costs, Interest on delayed payments, Release of retention money. |
| Quantum of Claims (Claimant) | Approximately ₹ 130 crore (excluding further interest, taxes, costs and subject to revised quantification/updation during the arbitration proceedings). |
The final financial outcome arising from these arbitration proceedings remains subject to the determination of the Arbitral Tribunal and the subsequent arbitral award.
CEMPRO Stock Price Movement
Shares of Cemindia Projects Limited today slipped by 0.13% to settle at ₹1367.8, ending the trading day in a marginal downturn. The stock saw active post-market trading, recording a total volume of 464,719 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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