PNC Infratech Ltd. has been declared the lowest bidder for a highway and bridge construction project worth Rs 380 crore in Uttar Pradesh and Bihar.
According to an exchange filing, the company secured the project involving the "construction of an additional 3-lane bridge over River Ganga for the connection between Buxar and Bharauli on NH-922" through the hybrid annuity mode.
The scope includes construction of the bridge and associated highway infrastructure. The contract stipulates a construction period of 910 days, followed by a 15-year operation period after completion.
Shares of the company closed 0.91% lower at Rs 458.85 per share, compared to a 0.03% decline in the NSE Nifty 50. The stock has risen 42.46% year-to-date and 30.46% over the past 12 months.
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