PNC Infratech announced the signing of concession agreement on July 16, 2018 between National Highways Authority of India and Special Purpose Vehicle incorporated for the following Hybrid Annuity Mode (HAM) NH project, secured recently by the company.

The project is Four Laning of Challakere to Hariyur section of NH 150 A, in the state of Karnataka. Name of SPV-PNC Challakere (Karnataka) Highways. Bid Project Cost worth Rs 11.57 billion.

The above project is to be constructed in 24 months upon declaration of appointed date and operated for 15 years, post construction. The company till date has secured total seven NH projects on Hybrid Annuity Mode for an aggregate Bid Project Cost of Rs 95.48 billion and concession agreements for all the seven projects were executed; four of which are under construction and three are under development.

Shares of the company gained Rs 4.65, or 3.10%, to trade at Rs 154.85. The total volume of shares traded was 16,042 at the BSE (11.18 a.m., Wednesday).