PNC Infra bags Rs 2,159 cr highway contract in Uttar Pradesh

PNC Infratech said it has bagged Rs 2,159 crore contract for a six-lane highway stretch in Uttar Pradesh on Saturday.

The price bids were opened on Friday with PNC's bid being the lowest (L1), the company said in a BSE filing.

"PNC Infratech Ltd has been declared the L1 (lowest) bidder for NHAI project of 145 km long six-laning of Chakeri -Allahabad section of NH 2...to be executed on Hybrid Annuity Mode for a bid project cost of Rs 2,159 crore," it said.

This is the fifth hybrid annuity project won by PNC Infratech has a construction period of two years and operation period of 15 years, it added.