PJTL Lenders Approve Rs 10.20 Bn One-Time Settlement Plan

04 Jul 2024 CW Team

Lenders of Patel Infrastructure Ltd's (PJTL) road project have approved a one-time settlement (OTS) plan worth Rs 10.20 billion. This agreement aims to resolve the company's outstanding debts and marks a significant step towards financial stabilisation.

The settlement involves a comprehensive plan to clear the debts associated with PJTL's highway project, which has faced financial challenges due to cost overruns and delays. The OTS was agreed upon after extensive negotiations between PJTL and its consortium of lenders, demonstrating a collaborative effort to address financial distress and avoid lengthy litigation.

PJTL's officials expressed optimism about the agreement, highlighting that the settlement will enable the company to focus on its core operations and future projects without the burden of unresolved debt. This move is expected to improve PJTL's credit profile and restore confidence among stakeholders and investors.

The lenders, including major banks and financial institutions, have welcomed the settlement as a pragmatic solution to recover dues and mitigate potential losses. The agreement includes structured repayment terms and timelines, ensuring a clear path to debt resolution.

This one-time settlement is seen as a strategic decision to stabilise PJTL's financial situation and ensure the continuity of its infrastructure projects. The resolution is anticipated to have a positive impact on the company's operational capabilities and its ability to secure new contracts in the future.

Overall, the Rs 10.20 billion settlement plan reflects a proactive approach by both PJTL and its lenders to address financial challenges, paving the way for sustained growth and development in the infrastructure sector.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..