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

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