PNC Infratech receives LoA for EPC project

PNC Infratech announced receipt of Letter of Acceptance for an EPC project from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department.

PNC Infratech in Joint Venture with SPML Infra, received Letter of Acceptance (LOA) 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 on 10 December 2020.

Approximate value of the Project is Rs 952 crore and specific value will be known at the time of agreement, after preparation and approval of DPR for the Project. PNC Infratech's share in the JV is 95%. 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.

The announcement was made after market hours yesterday, 10 December 2020. Shares of PNC Infratech fell 2.34% to settle at Rs 175.25 yesterday.

PNC Infratech is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.

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