PNC Infratech emerges as lowest bidder for Rs 1,602 cr highway project in UP

(Eds: Changing one word in headline)

New Delhi, Feb 13 () PNC Infratech Ltd on Thursday said it has emerged as the lowest bidder for a highway project worth Rs 1,602 crore in Uttar Pradesh.

"PNC Infratech has been declared the L1 (lowest) bidder for a NHAI project of 70-km long four laning of Unnao-Lalganj section of NH 232 A...in the state of Uttar Pradesh under NHDP IVB, to be executed on Hybrid Annuity Mode for a bid project cost of Rs 1,602 crore," the company said in a regulatory filing.

Four firms participated in the bidding and the price bids have been opened on Thursday with PNC's bid being the lowest, it said.

The project is to be constructed in 30 months and operated for 15 years post construction.

This is the tenth hybrid annuity highway project secured by the company so far.

Shares of PNC Infratech were trading at Rs 201.80 in afternoon trade on the BSE, higher by 1.43 per cent over its previous closing price. SID DRRDRR