PNC Infra receives LOA for 3 new rural drinking water supply projects on EPC mode; Stock gains ~2%

27 Jan 2022 , 02:12 PM

PNC Infratech Limited in Joint Venture with SPML Infra Limited, on Tuesday, announced receipt of Letters of Award (LOA) for three new EPC Projects namely “Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10 years of Rural Water Supply” for a total village of 2475 in the following districts of Uttar Pradesh from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department, Government of Uttar Pradesh.

The approximate aggregate value of the total three projects is Rs2337cr and, a specific value will be known at the time of execution of agreements, after preparation and approval of Detailed Project Reports.

Projects are to be constructed in 12 months upon signing of the agreements and operated for 10 years, post commissioning. The Company’s (PNC Infratech) share in the JV is 90%.

At around 2.17 pm, PNC Infratech Ltd was trading at Rs283 per share up by Rs4.8 or 1.73% from its previous closing of Rs278.20 per share on the BSE. The scrip opened at Rs275 and has touched a high and low of Rs288.45 and Rs274 respectively.