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Ashoka Buildcon wins Rs 1,382-crore contract from NHAI in Karnataka

The contract to build 56 km highway stretch is under hybrid annuity mode for Tumkur-Shivamogga section of highway in Karnataka

Press Trust of India  |  New Delhi 

NHAI borrowings jump a little over 18 times to Rs 620 billion since 2014

Thursday said it has won a Rs 1,382 crore highway contract in Karnataka from (NHAI).

The contract to build 56 km highway stretch is under hybrid annuity mode (HAM) under which the government provides 40 per cent of the project cost to start work, while the remaining investment is made by the developer.

The company's subsidiary (ACL) had submitted its bid to for the Tumkur - Shivamogga section of highway from Bettadahalli Shivamogga (Package IV) in Karnataka on HAM under Bharatmala project.

"ACL emerged as the lowest bidder at the financial bid opening meeting held on February 21, 2019 at New Delhi. The quoted bid project cost for the project is Rs 1,382 Crore," said in a BSE regulatory filing.

Earlier, the had decided that the development of Tumkur-Shivamogga Section of NH-206 in Karnataka will be done on HAM.

ALSO READ: Ashoka Buildcon climbs 8% on investment by Morgan Stanley's infra arm

The 4-laning of about 220 km long Tumkur Shivamogga section is divided into five packages.

First Published: Thu, February 21 2019. 17:50 IST
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