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PNC Infratech Limited on Monday, March 27, 2023, said that it has been declared the L1 (Lowest) bidder for a highway project by Ministry of Road Transport & Highways (MoRTH). Project is to be constructed in 24 months and operated for 15 years, post construction.

Under the project, the Construction engineering company will be constructing 25.545 kilometers of 4-lane highway of NH-731A with paved shoulders (i/c Ganga Bridge) in Uttar Pradesh on Hybrid Annuity Mode (Package-III).

PNC Infratech in a regulatory filing at exchanges said, “Company has been declared L1 (Lowest) bidder in a Ministry of Road Transport & Highways (MORT&H) (the "Authority") highway project namely "Construction of 4-lane highway from Km 49.155 to Km 74.700 (Singraur Uphar to Baranpur Kadipur lchauli) of NH-73IA with paved shoulders (i/c Ganga Bridge) in the state of Uttar Pradesh on Hybrid Annuity Mode (Package-Ill)" on 27.03.2023 for a Bid Project Cost of Rs 819.0 crore.”

PNC Infratech’s bid cost for the project was Rs 819 crore. Price bids for the project were opened on Monday, March 27, 2023, with PNC’s bid being the lowest (L1).

Shares of PNC Infratech closed 4.66 percent lower at Rs 265 per share at the National Stock Exchange (NSE) today.

Also read: Dilip Buildcon emerges lowest bidder for Rs 780.12 crore NHAI project

First Published:Mar 27, 2023 7:59 PM IST