PNC Infratech today said the UP government has decided to reinvite bids for Purvanchal Expressway and cancelled the company's Rs 1,738.44 crore offer made earlier.
PNC Infratech was declared the lowest bidder for the 4th package of the project for a quoted price of Rs 1,738.44 crore.
"The government of Uttar Pradesh has cancelled the ongoing bidding process of 341 km long Purvanchal Expressway project comprising eight individual packages and decided to go for fresh bidding. The company... was declared as L1 (lowest) bidder for the 4th package of the above project on EPC basis for a quoted price of Rs 1,738.44 crore, which now stands cancelled," the company said in a BSE filing.
PNC Infratech is an infrastructure construction, development and management company.
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