PNC Infratech Limited has announced the incorporation of a new subsidiary, PNC AAKSHYA Joint Venture Private Limited, as a Special Purpose Vehicle (SPV) on October 14, 2024. The subsidiary was created to execute an Engineering, Procurement, and Construction (EPC) project awarded by the City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO).
The project is focused on integrated infrastructure development, which includes the construction of major roads, flyovers, bridges, and electrical works under the NAINA Project. PNC AAKSHYA Joint Venture will have an authorized capital of ₹5 lakh and a paid-up capital of ₹1 lakh. PNC Infratech holds a 90% stake, while AAKSHYA Infra Projects Private Limited holds the remaining 10%.
This EPC project aligns with PNC Infratech’s core infrastructure operations. As the SPV is newly incorporated, business operations are yet to commence.
