Mumbai, July 23 -- PNC Infratech said it has executed concession agreements with the National Highways Authority of India and special purpose vehicles incorporated by the company for two Hybrid Annuity Mode highway projects. The agreements were signed on 16 July 2026 late evening and cover an aggregate bid project cost of Rs 34,830 million (mn). The projects are under the NH (O) Scheme and form part of the NH-927 corridor in Uttar Pradesh. The company said the agreements were executed with the corresponding special purpose vehicles incorporated for each package.
The first package involves construction of a four-lane highway from Barabanki to Mustafabad under Package-I and carries a bid project cost of Rs 17,280 mn. The project is identified as Barabanki Mustafabad Highway and covers the initial stretch of NH-927 in Uttar Pradesh. The concessionaire for this package is the special purpose vehicle incorporated by the company and will be responsible for construction and associated obligations under HAM. The package spans key stretches of the corridor and assigns construction and contractual duties to the designated SPV.
The second package covers the four-lane stretch from Mustafabad to Biswariya under Package-II and carries a bid project cost of Rs 17,550 mn. Identified as the Mustafabad Biswariya Highway, the package continues along NH-927 and completes the specified section in the state. This concession will also be implemented by a company incorporated special purpose vehicle under the Hybrid Annuity Mode.
PNC Infratech will proceed with implementation and the agreements set the framework for annuity payments and balance construction obligations as per HAM terms with the National Highways Authority of India. The company statement noted the signing and the aggregate financial commitment without involving a journalist in its release. First published on 16 July 2026, the disclosure follows standard regulatory intimation practices.
Published by HT Digital Content Services with permission from Construction World.