PNC Infratech Declared As L1 Bidder For Rs 819 Crore Hybrid Annuity Highway Project
The project is to be constructed in 24 months and operated for 15 years after construction.
PNC Infratech Ltd. has been declared the lowest bidder by the Ministry of Road Transport and Highways for the construction of highway projects in Uttar Pradesh. The company's bid stands at Rs 819 crore.
The company will construct a four-lane highway from Singraur Uphar to Baranpur Kadipur lchauli of National Highway-73IA, it said in an exchange filing on Monday.
The project is to be constructed in 24 months and operated for 15 years after construction.
In accordance with the provisions of the SEBI (Prohibition of Insider Trading Regulations), the trading window for dealing in the securities of the company for all designated persons shall remain closed for 48 hours after the announcement, the company said.
On Monday, the stock declined 4.46% as compared with a 0.24% rise in the benchmark Sensex, which closed at 57,653.86.