Ashoka Buildcon emerges lowest bidder for Rs 443 cr railway project in Punjab

Infrastructure firm Ashoka Buildcon Tuesday said its joint venture firm has emerged as the lowest bidder for a Rs 443.23 crore worth railway project in Punjab.

Ashoka Buildcon has submitted the bid to Rail Vikas Nigam Ltd in joint venture with Stroytech Services LLC, wherein the company is a lead member, for the project in the Punjab, Ashoka Buildcon said in a regulatory filing.

"The company has emerged as the lowest bidder (L-1) for package 2, the quoted value of which is Rs 443.23 crore, with a completion period of 36 months for package," the company added.

The project includes construction of roadbed, minor bridges, supply of ballast, installation of track, electrical (railway electrification and general electrification), signalling and telecommunication works for doubling of track between Kakrala halt and Hadiaya from 57.50 km to 115.64 km in Ambala division of Northern Railway.

Shares of Ashoka Buildcon were trading 5.41 per cent higher at Rs 127.70 apiece on BSE.