PNC Infratech has received Letter of Acceptance (LOA) in a joint venture with SPML Infra, for an EPC Project namely “Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10 years of Rural Water Supply Project in 952 villages in Devipatan Division of Uttar Pradesh” from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department.
The project values approximately about Rs952cr, however, PNC adds that the specific value will be known at the time of the agreement, after preparation and approval of DPR for the Project.
PNC said, "The Project is to be constructed and put-on trial in 21 months upon signing of the agreement and operated for 10 years, post-commissioning. This is the second project in the drinking water supply sector secured by the Company."
In the JV with SPML, PNC Infratech holds about 95%.
On Sensex, PNC Infratech finished at Rs179.50 per piece up 2.43%.