PNC Infratech bags project worth Rs1,458 crore from NHAI; stock spurts ~3.5%

PNC Infratech Limited announces the signing of a concession agreement between the National Highways Authority of India and the Company's Special Purpose Vehicle for the implementation of the following Hybrid Annuity Mode (HAM) Project Package on September 8, 2022.

The company stated that it has received the order for Four Laning of Sonauli - Gorakhpur section of NH-29E from Design Ch. 0+000 to Design Ch. 79+540 on Hybrid Annuity Mode in the state of Uttar Pradesh.

Company will execute this project through its SPV Sonauli Gorakhpur Highways Private Limited.

The estimated bid project is Rs14,458 crore for a project length of 79.54 km.

The company plans to complete the said project within 24 months, upon declaration of the appointed date. It shall remain operated for 15 years, post-construction.