PNC Infratech rose 1.97% to Rs 291.95 after the company announced that it had been declared the lowest (L1) bidder for two National Highways Authority of India (NHAI) highway projects with an aggregate bid project cost of Rs 2,004.43 crore. The first project’s scope includes the construction of a 6-lane greenfield Varanasi-Ranchi-Kolkata highway from the junction with the Chandauli-Chainpur road near Khainti village to the junction with the Bhabhua-Adhaura road near Palka village under the Bihar Bharatmala Pariyojana on a hybrid annuity mode. The bid price for the project is Rs 891 crore.
The following project is the construction of a six-lane greenfield Varanasi-Ranchi-Kolkata highway from the junction with the Bhabhua-Adhaura road in Bhairopur village to Konki village under the Bihar Bharatmala Pariyojana on a hybrid annuity basis. The estimated cost of the project is Rs 1,113.43 crore.
Both projects will be built in 24 months and will be operational for 15 years after that. PNC Infratech is involved in the development of India’s infrastructure by building highways such as BOT (built, operate, and transfer projects), HAM (Hybrid Annuity Model), airport runways, bridges, flyovers, and power transmission projects, among others.