Deals11 Oct 2024, 11:22 pm
PNC Infratech Ltd Receives Letter of Acceptance from CIDCO for INR 2039.61 Crore Project
AI Summary
PNC Infratech Ltd has announced the receipt of a Letter of Acceptance from City & Industrial Development Corporation of Maharashtra Ltd. (CIDCO) for a project named 'Integrated Infrastructure Development of 20M & above wide Roads, Construction of Various Major & Minor Structures and Allied Electrical Works (Street Light) in TPS -8, 9 and TPS-12 under NAINA Project'. The project is worth INR 2039.61 crore, exclusive of GST. The company initially quoted INR 2090.59 crore, but after negotiations, the contract price was reduced to INR 2039.61 crore.
Key Highlights
- PNC Infratech Ltd has received a Letter of Acceptance from CIDCO for a project worth INR 2039.61 crore.
- The project involves the integrated infrastructure development of roads, major & minor structures, and electrical works in TPS -8, 9 and TPS-12 under NAINA Project.
- The company initially quoted INR 2090.59 crore, but the contract price was negotiated down to INR 2039.61 crore.
- The project has a completion period of 1460 days, including the monsoon period.
- There are no related party transactions involved in this project.