Home / Companies / News / PNC Infra bags 2 contracts after govt cancels lowest bid from Chinese firm

PNC Infra bags 2 contracts after govt cancels lowest bid from Chinese firm

The bids submitted by Jiangxi Construction have been annulled after the government decided to restrict Chinese companies in India

Contractors will now be given funds every month, rather than on the basis of the milestone achieved

Premium

The bids for these contracts were submitted in January this year and opened in March

2 min read Last Updated : Jul 23 2020 | 8:55 PM IST

China’s loss has turned out to be PNC Infratech Ltd’s gain as the company has bagged two highway construction contracts worth over Rs 1,500 crore, after the Union government cancelled the lowest bid submitted by the Chinese company, Jiangxi Construction.

PNC Infratech, in an announcement to the stock exchanges said that the company received LOA (letter of award) from NHAI (National Highways Authority of India) for two EPC projects of Delhi - Vadodara alignment of the 8-lane access controlled greenfield expressway for an aggregate contract value of Rs 1,547.80 crore.

The bids for these contracts were submitted in January this year and

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in