Ashoka Buildcon Arm Signs Concession Pact with NHAI for Rs 860 Cr | CORPORATE ETHOS

Ashoka Buildcon Arm Signs Concession Pact with NHAI for Rs 860 Cr

By: | May 4, 2018
Ashoka-Buildcon

May 4: Infrastructure development company Ashoka Buildcon Ltd (ABL) on Friday announced that Ashoka Khairatunda Barwa Adda Road Ltd (SPV) has executed a Concession Agreement with National Highways Authority of India (NHAI) for the Project Six Laning of Khairatunda to Barwa Adda Section of NH-2 from km. 360.300 to km. 400.132 in the State of Jharkhand under NHDP Phase-V on Hybrid Annuity Mode.

According to ABL, the SPV is a wholly owned subsidiary of Ashoka Concessions Ltd, a subsidiary of the company.

“The accepted bid project cost is Rs 860.10 crore,” it said.

Headquartered in Nashik, Ashoka Buildcon is one of India’s leading road infrastructure companies. It focuses on construction and maintenance of roads and supporting services to land support-operation of toll roads and others. The company operates through three segments namely construction and contract related activities, BOT projects, and sales of goods.