Kathmandu, March 3 -- The Civil Aviation Authority of Nepal has lodged a counter claim for Rs13 billion in loss of income at the Singapore International Arbitration Centre against Constructora Sanjose, the ousted Spanish contractor of the Tribhuvan International Airport improvement project.

The counter-claim was filed last Thursday and arbitration proceedings are expected to commence in November, two high-level sources privy to the matter told the Post.

According to them, Rs10 billion has been claimed for revenue losses from 2016 [contract termination period] to 2022 [extended deadline of the project due to contract termination]. Similarly, Rs3 billion has been claimed as price escalation or inflation costs.

Spanish contractor Construc...