PNC Infra-led consortia lowest bidder for Rs1,507cr road projs

PNC Infratech Ltd today said two joint ventures led by the firm have been declared as the lowest bidders for two NHAI projects worth Rs 1,506.84 crore.
"The projects involve rehabilitation and augmentation of four laning of Koilwar-Bhojpur and Bhojpur-Buxar sections of NH-84 in Bihar, under NHDP Phase III, to be executed on EPC basis," PNC Infratech said in a BSE filing.
In response to the bids invited by National Highways Authority of India (NHAI), three firms including the PNC Infratech-led JVs had submitted their bids on July 21, for the projects.
"The price bids of the two projects were opened on Tuesday, July 28, with the PNCSPSCPL JV's bids being the lowest in both for Rs 825.17 and Rs 681.67 crores, respectively," the statement said.

PNC's share in the JV is 55 per cent for Koilwar-Bhojpur package and 70 per cent for the Bhojpur-Buxar package, with the balance being with S P Singla Constructions Pvt Ltd SPSCPL).
PNC Infratech Limited is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.

The company has been executing projects across various states in India including Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu.
The company said it has till date executed 44 major projects and is working on 21 projects on EPC basis.

The Company's order book in terms of total value of contracts including escalation was over Rs 7,800 crore as on March 31, 2015 of which the outstanding contracts pending execution are valued at over Rs 3,400 crore.
PNC Infratech, through its various subsidiaries and JV companies, has a portfolio of eight BOT/ OMT projects, of which six including Kanpur-Kabrai section of NH 86, Gwalior-Bhind section of NH 92, Kanpur-Lucknow- Ayodhya section of NH 25, NH 56-A&B and NH 28 are operational.
The shares of the company were trading at Rs 449.90 at about 1315 hrs, up 3.26 per cent on BSE.