PNC Infratech Ltd. has received a Letter of Award from the Madhya Pradesh Road Development Corp. for a project worth Rs 1,174 crore.
The infrastructure construction firm will build the Western Bhopal Bypass as a four-lane project with a length of 40.9 km in a hybrid annuity mode, according to an exchange filing issued on Tuesday.
The company expects the construction of the bypass to be completed within 24 months. The operation period is 15 years after the construction, it said.
Shares of PNC Infratech closed 4.84% higher at Rs 406.25 apiece on the BSE, as compared with a 0.27% fall in the benchmark Sensex.
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