Ashoka Buildcon update on NHAI road project in Jharkhand

Ashoka Buildcon announced the declaration of 09 October 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") vide letter issued by Independent Engineer on 11 October 2021 for the Project viz. Six Laning of Khairatunda to Barwa Adda Section of NH-2 from km. 360.300 to km. 400.132 in the State of Jharkhand under NHDP Phase-V on Hybrid Annuity Mode (Project).

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

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD.

 

The Company also announced that the said SPV has received a Provisional Certificate for completion of 36.40 kms out of total Project highway Length of 40.33 kms.

Powered by Capital Market - Live News