PNC Infratech on Tuesday, March 14 announced that the company has been declared as the lowest bidder for the National Highways Authority of India's (NHAI) highway project worth Rs 1,260 crore.

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The development is for the construction of the 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Pachmon village to Anarbansalea village, under Bharatmala Pariyojana in Bihar on Hybrid Annuity Mode- Package 6.

The company in a regulatory filing said, "Project is to be constructed in 24 months and operated for 15 years, post-construction".

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Recently on March 9, the infratech company bagged 2 new hybrid annuity highway ventures worth Rs 2,004.4 crore from NHAI. The projects included the construction of a 6-lane Greenfield Varanasi - Ranchi – Kolkata Highway from junction with Chandauli - Chainpur Road near Khainti village to junction with Bhabhua - Adhaura road near Palka village.

The cost of the contract is Rs 891 crore. The second project which is worth Rs 1,113.43 is for the construction of a 6-lane Greenfield Varanasi - Ranchi – Kolkata Highway from junction with Bhabhua - Adhaura Road in Bhairopur village to Konki village for 36.0 km length (from km 54+000 to km 90+000) under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode - Package 3.

The shares of PNC Infratech closed 0.1 percent lower at Rs 284.5.

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