You are here: Home » News-CM » Companies » News
Business Standard

Ashoka Buildcon update on NHAI project in Andhra Pradesh

Capital Market 

Ashoka Buildcon intimated the declaration of September 24, 2020 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) on 13 October 2020, for the Project viz. 4/6 laning from Ranastalam to Anandapuram (Visakhapatnam) (from Km 634.000 to Km 681.000) section of NH05 (New NH-16) in the State of Andhra Pradesh under NHDP Phase- V (Package II) on Hybrid Annuity mode Basis (Project).

The Project is executed by Ashoka Ranastalam Anadapuram Road, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions, a Subsidiary of the Company.

Further to inform that consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI within 6 months from the date of achievement of CoD i.e. 6 months from 24 September 2020.

The Company also announces that the said SPy has received a Provisional Completion Certificate for completion of 45.550 KMs out of total Project highway Length of 47.00 KMs.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 14 2020. 14:13 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU