On April 30, 2023, PNC Infratech established a wholly-owned subsidiary (WOS) business called "Varanasi-Kolkata Highway - Package II" as a special purpose vehicle (SPV) to carry out a project that the National Highways Authority of India (NHAI) had approved.

The Bharatmala Pariyojana in Bihar is funding the construction of a greenfield, six-lane Varanasi-Ranchi-Kolkata highway that will run from the junction with Chandauli-Chainpur road near Khainti village to the junction with Bhabhua-Adhaura road near Palka village.

The new company has been registered with a Rs 1 million authorised capital and will start doing business soon.

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