Patna Highway Projects Limited (‘PHPL’) was incorporated under the Companies Act, 1956, on December 22, 2009, for undertaking “Upgradation of Hajipur-Muzaffarpur Section of the existing NH-77 to four lane dual carriageway configuration of the section starting from Km. 0+000 (Ramashish Chowk) to Km. 46+300 and construction of 16.870 kms. new bypass starting at Km. 46+300 and connecting NH-28 of East -West Corridor at Km. 515+045 in the State of Bihar on BOT (Annuity) basis under NHDP Phase-III”.

The Concession Agreement for the Project was signed on 24th February 2010 (for a period of 15 years) and Provisional Completion was achieved on 1st September 2016. The Company recently went through a successful corporate insolvency resolution process under the provisions of the Insolvency and Bankruptcy Code, 2016, which culminated in the approval of a Resolution Plan by the Hon’ble NCLT Principal Bench (New Delhi) in May 2022.

Subsequently, the Company emerged under new ownership which is undertaking steps for the revival and turnaround of PHPL. As of date, project construction works are substantially complete in all respects.