PNC Infratech achieves financial closure for Karnataka project

PNC Infratech today announced that financial closure has been achieved for a highway project in Karnataka.
The company has received a letter from NHAI regarding the achievement of financial closure for the project of 'Six- Laning of Chitradurga-Davanagere including Chitradurga bypass of NH-48' in Karnataka to be executed on Hybrid Annuity Mode under NHDP Phase-V, it informed BSE.
The project is being implemented by PNC Chitradurga Highways, a special purpose vehicle incorporated by the company.
With this, the company has achieved financial closures for all the four hybrid annuity highway projects before the scheduled time, awarded to the company till date for which the concession agreements have been executed.

Shares of the company closed at Rs 183.35 per scrip, down 1.21 per cent on BSE.