PNC Infratech has inked concession agreement for a national highway project with the National Highways Authority of India (NHAI). The scope of work involves four-laning of Meerut-Nazibabad section of NH-119 (new NH-34) from design chainage 11.500 km (Meerut) to 39.250 km (Behsuma) and from 79.500 km (Bijnor) to 105.700 km (Jalalabad), in the state of Uttar Pradesh under Bharatmala Pariyojana on hybrid annuity mode (HAM). The bid project cost is Rs 1,412 crore. In FY21, the company has executed concession agreements for four national highway projects, including the above one, to be executed on HAM model with NHAI for an aggregate bid project cost of Rs 6,596 crore. The company has also executed agreements for two national highway projects on EPC mode with NHAI for a total contract value of Rs 1,547.8 crore in FY21.