Wednesday, September 28, 2022

Ashoka Buildcon bags Rs 1,000-cr project from NHAI

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New Delhi: Ashoka Buildcon Limited has bagged a project worth Rs 1,000 crores from the NHAI (National Highway Authority of India) on Monday after it emerged as the lowest bidder, it said in a regulatory filing. The order involves four laning of NH-161 from Kandi to Ramsanpalle in the state of Telangana under Bharatmala Pariyojna.

Details of the NHAI contract

The contract to four-lane NH-161 has been awarded under hybrid annuity mode (HAM) under which the government would provide 40 percent of the project cost to start work, while the remaining investment will be made by the developer.

“Ashoka Buildcon Limited informs that Ashoka Concessions Limited (ACL), a subsidiary of the company, had submitted its bid to National Highways Authority of India (NHAI) for the project viz. four laning of NH-161 from Kandi (Design Km 0.000) (Km 498.250 of NH-65) to Ramsanpalle (Design Km 39.
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980/Existing Km 44.757) (Design Length = 39.980 Km) in the state of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode… ACL emerged as “the Lowest Bidder” at the Financial Bid opening meeting held on November 18, 2019,” Ashoka Buildcon said in a regulatory filing on Monday.

The backdrop

In October, Ashoka Buildcon had bagged a project from the Uttar Pradesh Expressways Industrial Development Authority after emerging as the lowest bidder (L1) for Bundelkhand Expressway Project (UP). The Uttar Pradesh Expressways Industrial Development Authority had invited the bid for the project for which Ashoka Buildcon quoted Rs 1,079.52 crores.

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