PNC Infratech’s wholly owned subsidiary -- PNC Raebareli Highways -- has successfully commissioned the project of two-laning of Raebareli-Jaunpur Section of NH-231 more than 3 months ahead of schedule. PNC was awarded the project for two-laning with paved shoulders from Km 0.000 to Km 166.400 of the Raebareli to Jaunpur Section of NH-231 in the State of Uttar Pradesh under NHDP IV on BOT (Annuity) basis.
The total project cost was Rs 837.40 crore and the concession period is 17 years from the appointed date including construction period of 2 years. The project has been completed on 27 February 2016, more than 3 months prior to the scheduled completion date of 2 June 2016. PNC received the completion certificate to this effect, on 22 March 2016.
On achieving the Commercial Operations Date (COD), PNC becomes entitled to receive semi annual (half yearly) annuity of Rs 64.3 crore each during the remaining 15 years of the concession period, including proportionate amount of bonus annuity for early completion in terms of the concession agreement. With the commissioning of this project, PNC's entire portfolio of 7 BOT and OMT projects is now operational.
PNC Infratech is one of the front ending Indian infrastructure construction, development and management companies in the country, with wide experience and proven expertise in the execution of major infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways, industrial area development and other infrastructure activities with an established track record of successful execution of projects across sectors and geographies.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4075.85 |
| Rail Vikas Nigam | 287.15 |
| NCC | 155.45 |
| KEC International | 565.60 |
| Kalpataru Projects | 1211.70 |
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