Ashoka Buildcon arm executes concession pact with NHAI for Rs 1,036 cr road project

Ashoka Buildcon on Friday announced the execution of a concession agreement with NHAI for a Rs 1,035.5 crore road project in Karnataka

Press Trust of India March 20, 2020 15:55:43 IST
Ashoka Buildcon arm executes concession pact with NHAI for Rs 1,036 cr road project

New Delhi: Ashoka Buildcon on Friday announced the execution of a concession agreement with NHAI for a Rs 1,035.5 crore road project in Karnataka.

"Ashoka Banwara Bettadahalli Road Pvt Ltd (SPV) has executed a concession agreement with National Highways Authority of India (NHAI) on 19 March, 2020, for the project viz. four laning of Tumkur-Shivamogga section...in the state of Karnataka, on hybrid annuity mode under Bharatmala Priyojana (Package - III)," Ashoka Buildcon said in a filing to the BSE.

The SPV is a wholly-owned subsidiary of the company, the filing said.

"The accepted bid project cost is Rs 1,035.50 crore," the filing said.

Shares of Ashoka Buildcon were trading at Rs 54.65 apiece on the BSE, up 3.21 percent over the previous close.

Updated Date:

also read

Sisodia approves road redevelopment projects of Rs 29.77 crore for west Delhi
India

Sisodia approves road redevelopment projects of Rs 29.77 crore for west Delhi

The Public Works Department (PWD) will also maintain the pavements, central verges and service lanes, including lane marking, white washing of parapet walls and railings, of these road stretches

Viral: Man rides bike with both legs on one side, fined Rs 4,200
India

Viral: Man rides bike with both legs on one side, fined Rs 4,200

In the video, the man while keeping both legs on the right side of the bike was speeding on the road.

MACT awards Rs 12 lakh compensation to parents of student killed in road accident
India

MACT awards Rs 12 lakh compensation to parents of student killed in road accident

The Thane Motor Accident Claims Tribunal (MACT) has awarded a compensation of nearly Rs 12 lakh to the parents of a 19-year-old female engineering student, who was killed in a road accident in 2018.