PNC Infratech Ltd on Friday announced it has received a letter of acceptance (LoA) worth Rs 4.96 billion from the Bihar State Road Development Corporation (BSRDC).

The contract involves constructing a high-level bridge and approach road along the Hathouri–Atrar–Bavangama–Aurai Road, covering a total distance of 21.3 km. Awarded under the Engineering, Procurement, and Construction (EPC) model, the project is scheduled for completion within 1,095 days, or three years.

The company confirmed that neither its promoters nor group entities hold any financial or business interest in the awarding authority. The LoA follows PNC’s September 5 disclosure, when the project was first listed in its bid pipeline.

In a separate development, PNC Infratech said it has received approval from the Competition Commission of India (CCI) for its proposed acquisition of debt-laden Jaiprakash Associates Ltd (JAL).

Under the resolution plan, PNC will acquire between 95 and 100 per cent of JAL, either directly or through a special purpose vehicle. JAL, currently undergoing insolvency proceedings, has operations in the cement and power sectors.

This acquisition represents a strategic diversification for PNC, enabling the company to expand beyond roads and highways into allied sectors that complement its EPC expertise.