PNC Infratech shares are expected to stay in focus on Monday after the firm stated that it has been selected as the lowest bidder (L1) for an Engineering, Procurement, and Construction (EPC) project at Pantnagar Airport in Uttarakhand.
The Airports Authority of India (AAI) awarded the project with a stated contract value of ₹302.44 crore (without GST).
As per the company's regulatory filing, the scope of work comprises detailed design, engineering, procurement, and construction of Pantnagar Airport's cityside and airside infrastructure.
The cityside development works include the construction of a new domestic terminal building, parking facilities, an electrical substation, approach roads, ancillary structures and associated mechanical, electrical, plumbing (MEP) and electromechanical works. The project also includes the creation of airport IT systems, security infrastructure, maintenance, and operational support.
On the airside, the project includes extending and reinforcing the runway, apron, taxiways, isolation bay, runway end safety area (RESA), grading, and civil and electrical infrastructure for navigation aids. The scope comprises the building of surrounding and approach roads, as well as a runway lighting system.
According to PNC Infratech, the execution of the project time would last 24 months from the start date.
The company further stated that the contract is for a domestic project and that neither its promoters nor promoter group entities have any stake in the awarding body. As a result, the transaction does not qualify as related-party transactions.