PNC Infratech seals ₹2,926-cr funding deal for NH projects

PNC Infratech has sealed a funding deal worth ₹2,926 crore for two road projects to be built on Hybrid Annuity Model in Uttar Pradesh. The projects include Kanpur-Lucknow Expressway package I & II, the respective SPVs viz. Kanpur Lucknow Expressway Private Limited, Awadh Expressway Private Limited, which are wholly owned subsidiaries of the company.

The Kanpur Lucknow six lanes Expressway, which is upgradable to eight lanes also includes the construction of spur from km 10+980 to km 28+500 under the Bharatmala Pariyojana involving ₹1,413 crore investments. Awadh Expressway is a six lanes project upgradable to eight lanes of Kanpur Lucknow Expressway including spur from Km 28+500 to Km 73+744 in Uttar Pradesh also under the Bharatmala Pariyojana on Hybrid Annuity mode (Package-2) involving ₹1513 crores.