PNC submits financial closure of two HAM projects to NHAI

PNC Infratech has announced that for two hybrid annuity mode (HAM) projects namely Kanpur-Lucknow Expressway package I & II, the respective SPVs viz. Kanpur Lucknow Expressway, Awadh Expressway, which are wholly-owned subsidiaries of the Company, have submitted the duly executed financing documents to NHAI on October 7, 2022. Kanpur Lucknow Expressway: [Six lane upgradable to Eight lane of Kanpur Lucknow Expressway including spur from Km 10+980 to Km 28+500 in the state of Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity mode (Package-l)]. The bid project cost is Rs1413 crore. Awadh Expressway: [Six lane upgradable to Eight lane of Kanpur Lucknow Expressway including spur from Km 28+500 to Km 73+744 in the state of Uttar Pradesh under Bharatmala Pariyojana on Hybrid Annuity mode (Package-2)]. The bid project cost is Rs1513 crore. The above duly executed documents have been submitted within the time frames stipulated in the respective Concession Agreements and has requested the Authority (NHAI) for confirmation of the Financial Closures for the above projects, the company said in a regulatory filing.