PNC Infratech, an Indian infrastructure construction company, has secured two hybrid annuity highway projects from National Highway Authority of India (NHAI) worth of INR2720bn ($417m).

The company explained that it has been declared the lowest bidder for carrying out these two projects.

The project works include four laning of Jhansi-Khajuraho section of NH 75/76 from 0.00km to 76.30km in the states of Uttar Pradesh and Madhya Pradesh under National Highways Development Project (NHDP) III to be executed on Hybrid Annuity Mode for a Bid Project Cost (BPC) of INR1410bn ($216m).

"With these two new projects, PNC Infratech is reported to have secured four hybrid annuity highway projects so far."

For this project, five companies participated in the bidding, the price bids were opened on 23 March, and PNC’s bid was found to be the lowest (L1).

The second project includes four laning Jhansi-Khajuraho section of NH 75/76 from 76.30km to 161.70km in the Indian states Uttar Pradesh and Madhya Pradesh under National Highways Development Project (NHDP) III to be executed on Hybrid Annuity Mode for a BPC of INR1310bn ($201m).

For this project, six firms participated in the bidding process and PNC was reported to be the lowest bidder for this project as well.

With these two new projects, PNC Infratech is reported to have secured four hybrid annuity highway projects so far.

PNC Infratech has been engaged in executing major infrastructure projects, including highways, bridges, flyovers across various states in India.