Last Updated : Monday, May 18, 2020 20:26:16

PNC INFRA bags 14.12 bln rupees highway project on HAM basis

NEW DELHI / MUMBAI / RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, New Delhi headquartered Roads & Highways sector Indian company PNC Infratech Ltd said of having bagged 14.12 billion (~1,412 crore) rupees four-laning highway construction project on Hybrid Annuity Mode (HAM) basis in the state of Uttar Pradesh vide Bharatmala Pariyojana scheme.

In a press-release titled, “PNC Infratech Bags a new Hybrid Annuity Highway Project of Rs.1412.0 crore”, as attached and enclosed with the regulatory filing as submitted to the Indian Bourses, it further read that, PNC Infratech Limited has been declared as the L1 (lowest) bidder for a NHAI Project of 53.95 km long Four-laning of Meerut – Nazibabad section of NH-119 (New NH-34) from design chainage Km 11+500 (Meerut) to 39.250 (Behsuma) and from km 79.500 (Bijnor) to 105.700 (Jalalabad), in the state of Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs.1412.0 crore.

Four firms participated in the bidding and price bids were opened on Wednesday, May 13, 2020, with PNC’s bid being the lowest (L1).

The project is to be constructed in 24 months and operated for 15 years post construction.

This is the eleventh hybrid annuity highway project secured by the company so far.

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