 "Reliance Power")
Anil Ambani-promoted Reliance Power on Thursday said one of its subsidiaries has won an arbitration award in a contractual dispute over its Indonesian coal mines. The company will receive $56 million as compensation.
“Reliance Power Netherlands BV, a wholly-owned subsidiary of Reliance Power, has won an international arbitration award of $56 Million against Prestige Capital Holdings Ltd (a Seychelles based Company) and Kokos Jiang," R Power said in a statement.
In 2010, Reliance Power had acquired 100 per cent economic interest in three coal mining concessions in Indonesia. This was acquired from Sugico Group, which is owned by Jiang. The
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