Major setback for Afcons Infra: Client terminates Rs 1,200 crore contract
Afcons Infrastructure, a subsidiary of Shapoorji Pallonji group, has faced a major setback in its ongoing dispute with French company SOCIÉTÉ AUTOROUTIERE DU GABON (SAG) over a Rs 1,200 crore work order. SAG invoked bonds and issued a notice of termination, claiming incompletion of the work. Afcons has completed 93% of the project and is pursuing legal remedies through arbitration.