Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Real Estate & Construction


CIDC plans dispute resolution centre for construction firms

Our Bureau

New Delhi , Sept. 24

IN a bid to help Indian construction companies unlock the money tied up in disputes, the Singapore International Arbitration Centre and the Construction Industry Development Council in India (CIDC) would sign a memorandum of understanding on September 25 to establish a SIAC-CIDC Dispute Resolution Centre.

The centre in New Delhi would facilitate the resolution of construction related disputes arising in India.

Working with CIDC, SIAC would lend its experience to institute a system of case administration, as also expertise in areas such as developing a set of rules specific for construction industry in India; developing a training and accreditation programme for the appointment of arbitrators to the panel in the centre; and developing a training programme for mediation.

Indian construction industry is currently valued at $60 billion and has been growing at a rate of 10 per cent annually for the last eight years.

A CIDC survey conducted in January 2000 records that construction companies had close to $12 billion of this amount tied up in disputes.

More Stories on : Real Estate & Construction | Courts/Legal Issues

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
DRDO open to working with industry


Monsoon receding from N-W region — Wet spell for peninsula
Dindigul jatropha plans
Pension scheme for NIMS staff
OECD lifts Europe, Japan growth forecast
Committed to taking reform process forward: PM
Political, bureaucratic set-up must work together, says Rajasekhara Reddy
Malaysia keen on boosting trade ties with India
`Kerala must include organic farming in export policy'
Use new tech to improve health standards, Kalam tells scientists
Review of VAT rate on diesel on cards
Pharma industry against drug price control
Pharma stocks outperform others
NTPC likely to list on Nov 8 or 9
21 States fail to lure IPPs: Assocham
Pak keen to forge closer ties in textiles
`Beat competition with Six Sigma'
`India must improve education system'
Kerala Govt set up task force on Edusat
A study in contrast
CIDC plans dispute resolution centre for construction firms
Regional Research Lab team wins CSIR award
Talks soon with States to ease mica exporters' woes: Elangovan
No icing on the cake
Examination on Gandhi for prisoners
`SHGs gaining importance, popularity'
`Indian BPO firms must get aggressive to beat competition'
Blood donation week
Seminar on transfer pricing in Hyderabad
Salaried are not the favourites
Lower production may hit groundnut meal exports
Health tourism to be promoted in Kerala



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line