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The Cabinet Committee of Economic Affairs (CCEA) today gave its approval for extending budgetary support of US $ 675,000 (Rs. 3.25 crore approx.) along with interest due on date of payment to Burn Standard Company (BSCL) for settling the contract liability towards McDermott International Inc.(MII).
This would help in reaching an early solution of long standing disputes within legal framework. This would also enable BSCL to fulfill its financial obligations arising out of the award.
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