PNC Infra spurts ~4% on securing order worth Rs1,575 crore for a HAM project of NHAI

1 Jun 2022 , 03:10 PM

PNC Infratech Limited signed a concession agreement on May 31, 2022, between the National Highways Authority of India and the Special Purpose Vehicle incorporated by the Company for the implementation of the following Hybrid Annuity Mode (HAM) Project in Karnataka.

The total bid cost of the project is Rs1,575 crore.

The scope of work includes the Construction of 6 Lane Access Controlled Greenfield Highway from km 26,000 to 97,000, from Badadal (MH/KN Border) to Maradgi S Andola of NH-150C (Package-II) on Hybrid Annuity Mode, under Bharatmala Pariyojna.

The project is to be expanded to an area of 71 km.

The above project is to be constructed in 30 months upon declaration of appointed date and operated for 15 years, post-construction.

At around 3.08 PM, PNC Infratech was trading at Rs254.95 up by Rs9.95 or 4.06% from its previous closing of Rs245 on the BSE. The scrip touched intraday high and low of Rs263.50 and Rs243.30 respectively.