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 March 19, 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.
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.
