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
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.
Ashoka Buildcon executes concession agreement with NHAI for Karnataka project of Rs 1,036 cr pic.twitter.com/ibdHIeSsVV
— CNBC-TV18 (@CNBCTV18Live) March 20, 2020
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.
Kanpur Outer's SP Ashtbhuja Prasad Singh said a speeding bus hit a loader, which fell on the other side of the highway, while the bus also overturned and fell into a ditch
Kannada actor Sanchari Vijay passes away after bike accident in Bengaluru; Danish Sait, Kiccha Sudeepa tweet condolences
Sanchari Vijay had sustained serious head injuries due to the accident which lead to internal bleeding, doctors had said.
Explained: As G7 plans Build Back Better World, here's how much China has spent on Belt And Road Initiative
Compared to the post-World War domination that the US achieved, China may appear relatively new to the game. But the dragon has already made big strides; it is the US that may appear like it needs to play catch-up