SEPC Limited, one of India’s leading Engineering, Procurement and Construction (EPC) companies with operations spanning water and municipal services, roads, industrial infrastructure and mining, has finalised a Settlement Deed with Hindustan Copper Limited (HCL). The agreement concludes all claims and counterclaims arising from arbitration proceedings in Case No. AP 163 of 2023.

Under the settlement, SEPC will receive Rs 304.48 million as full and final payment, closing all pending arbitration matters between the two parties. In addition, HCL has issued a supplementary work order worth Rs 725.46 million for the ongoing vertical shaft-sinking project. This additional award significantly enhances the project’s value and strengthens SEPC’s position as a key EPC partner in India’s mining infrastructure sector.

Why the Settlement Matters

Improved cash flow: The settlement amount provides immediate liquidity and releases value previously tied up in dispute.

Closure of legacy arbitration: Ends prolonged legal uncertainty and reduces administrative overhead.

Expanded project pipeline: The supplementary order substantially increases the scope of an active mining project.

Boost to mining EPC portfolio: Reinforces SEPC’s capabilities in specialised underground mining infrastructure.

Stronger business visibility: Supports revenue growth and execution momentum heading into FY26.

SEPC Managing Director Venkataramani Jaiganesh welcomed the development, calling it “a positive and timely closure to a long-pending matter”. He acknowledged HCL’s constructive engagement in achieving the resolution and said the additional work order reflects strong confidence in SEPC’s ability to execute complex mining projects. With the arbitration now closed, Jaiganesh said the company can fully focus on delivery, operational discipline and accelerating project timelines.