PNC Infratech's SPV to execute contracts worth Rs1,623 crore for NHAI

21 Jul 2022 , 01:44 PM

PNC Infratech Limited announced signing of Concession Agreements between the National Highways Authority of India and the Company’s Special Purpose Vehicles for the implementation of the two Hybrid Annuity Mode (HAM) Projects on July 20, 2022.

The first agreement entered into by the company is for Four Laning of NH 530B from Mathura Bypass to Gaju Village in the State of Uttar Pradesh (Package-1B). The order is to be executed by the company’s SPV Yamuna Highways Private Limited for a bid price of Rs885 crore. The total length of the project is 32.98 Kms.

The second agreement is for Four Laning of NH 530B from Gaju Village to Devinagar Bypass in the State of Uttar Pradesh (Package-1C), to be executed by SPV Hathras Highways Private Limited. The total bid project cost is Rs738 crore, and it extends to a total of 33.02 Kms.

The company is expected to complete the above projects in 24 months, upon declaration of appointed dates, and is to remain operative for 15 years post construction.

At around 1.47 PM, PNC Infratech was seen at Rs251.30 down by 0.48% from its previous closing of Rs252.50 on the BSE. The scrip touched day’s high and low of Rs258.50 and Rs249 respectively.