PNC Infratech inks agreement with NHAI for Rs 3,264cr worth highway projects

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PNC Infratech Limited signed concession agreements with the National Highways Authority of India (NHAI) on 19th July 2023, launching three highway projects under the Hybrid Annuity Mode (HAM).

The three projects, with an aggregate bid cost of Rs. 3264.43 crore, are part of the ambitious Bharatmala Pariyojana and mark significant progress for infrastructure development in the state of Bihar.

The first project, undertaken by Varanasi Kolkata Highway Package 2 Private Limited, a special purpose vehicle (SPV) incorporated by PNC Infratech, will involve the construction of a 27.0 km section of the 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway in Bihar. The section, from the Chandauli-Chainpur Road near Khainti village to the Bhabhua-Adhaura road near Palka village, has a bid project cost of Rs. 891.00 crore.

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Following on the heels of the first project is the second, carried out by Varanasi Kolkata Highway Package 3 Private Limited. This SPV is set to construct a 36.0 km length of the same highway, from Bhabhua-Adhaura Road in Bhairopur village to Konki village, at a bid project cost of Rs. 1113.43 crore.

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Lastly, Varanasi Kolkata Highway Package 6 Private Limited will handle the third project, building a 35.2 km stretch from Pachmon village to Anarbansalea village, with a budget of Rs. 1260.00 crore.

Each of the three projects is expected to be completed within 24 months from their respective start dates. Following construction, each highway will be operated for a period of 15 years. These highway infrastructure projects represent significant steps in enhancing connectivity and bolstering economic development within the region.

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