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Infrastructure company PNC Infratech Ltd on Friday (May 29) said it has been declared the L1 (first lowest) bidder for an engineering, procurement and construction (EPC) project worth ₹302.44 crore, excluding GST, awarded by the Airports Authority of India (AAI).
The company said it has secured the bid for the project involving cityside works, including a new domestic terminal building with parking, electrical sub-station, approach roads, ancillary structures, allied works and associated MEP and electro-mechanical works, airport system, IT system, security system, including maintenance, operation & AICMC.
The scope also includes extension and strengthening of runway, apron, taxiways, isolation bay, RESA, grading, civil and electrical works for NAV-AIDS facilities, perimeter road, approach road, runway lighting system, and allied works at Pantnagar Airport in Uttarakhand on an EPC basis.
ALSO READ | PNC Infratech to receive ₹235 crore settlement from NHAI under Vivad-se-Vishwas III scheme
The order has been awarded by AAI and is classified as a domestic contract. The quoted price for the project stands at ₹302.44 crore, excluding GST. The execution timeline for the project has been set at 24 months.
PNC Infratech confirmed that the promoter or promoter group has no interest in the entity awarding the contract. It also stated that the contract does not fall under related party transactions and is not executed on an arm’s length related party basis.
Shares of PNC Infratech Ltd ended at ₹203, down by ₹9.05, or 4.27%, on the BSE today, May 29.
ALSO READ | PNC Infratech Q4 profit jumps 43% despite drop in revenue and margins
The company said it has secured the bid for the project involving cityside works, including a new domestic terminal building with parking, electrical sub-station, approach roads, ancillary structures, allied works and associated MEP and electro-mechanical works, airport system, IT system, security system, including maintenance, operation & AICMC.
The scope also includes extension and strengthening of runway, apron, taxiways, isolation bay, RESA, grading, civil and electrical works for NAV-AIDS facilities, perimeter road, approach road, runway lighting system, and allied works at Pantnagar Airport in Uttarakhand on an EPC basis.
ALSO READ | PNC Infratech to receive ₹235 crore settlement from NHAI under Vivad-se-Vishwas III scheme
The order has been awarded by AAI and is classified as a domestic contract. The quoted price for the project stands at ₹302.44 crore, excluding GST. The execution timeline for the project has been set at 24 months.
PNC Infratech confirmed that the promoter or promoter group has no interest in the entity awarding the contract. It also stated that the contract does not fall under related party transactions and is not executed on an arm’s length related party basis.
Shares of PNC Infratech Ltd ended at ₹203, down by ₹9.05, or 4.27%, on the BSE today, May 29.
ALSO READ | PNC Infratech Q4 profit jumps 43% despite drop in revenue and margins
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