Bina Puri Pakistan Private Limited Won Arbitration Case In Pakistan Over Termination Of M-9 Motorway Concession Agreement

KUALA LUMPUR, April 23 (Bernama) — Bina Puri Holdings Berhad’s subsidiary, Bina Puri Pakistan Private Limited (“BPPPL”) has won an arbitration case against the Pakistan National Highway Authority (“NHA)” in a dispute relating to the termination of a concession agreement dated 16th January 2012 for the construction of a 136 km long motorway known as “Conversion of the Existing 4-lane Karachi-Hyderabad Superhighway into 6-lane Motorway (M-9)” on a Built-Operate-Transfer (BOT)” for contract value of PKR24.93 billion (equivalent to RM864 million).

The High Court of Sindh on 23rd April 2013 referred the dispute to two Arbitrators. The matter had been subsequently referred to the Umpire on 27th September 2018 upon difference of opinion between the Honourable Arbitrators.