PNC Infratech shares are expected to remain in focus on October 16 after the company received Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two major Engineering, Procurement, and Construction (EPC) road projects, collectively worth Rs 4,630 crore.
The first project awarded to the company involves constructing the access-controlled Pune Ring Road, Package PRR E2, spanning from Indori to Chimbali in Pune District. The project, valued at Rs 2,268 crore, will be executed on an EPC basis.
This is for the development of an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg extending 28.895km from Jalna to Nanded. The value of the project is Rs 2,362 crore, and it too on EPC mode.
Recently, PNC Infratech has incorporated a wholly-owned subsidiary ‘PNC AAKSIIYA JOINT VENTURE’ – a special purpose vehicle to execute the EPC project in the state of Maharashtra, awarded by CIDCO (City & Industrial Development Corporation).
The company has also been issued a LoA by CIDCO for an integrated infrastructure development in Sector-23A in Navi Mumbai last week. The value of the project is Rs 2,039.61 crore. The project involves design and construction of roads of 20 meters and above as well as allied major and minor structures such as flyovers, minor bridges, VUPS and PUPS and others along with electrical works under the NAINA project.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
