Ashoka Buildcon emerges lowest bidder for Rs 1,035 crore road project

Ashoka Buildcon Limited has informed that the company had submitted its bid to National Highways Authority of India (NHAI) for a project and emerged the lowest bidder.

The project in question is four laning of Tumkur Shivamogga section from Km 119+790 to Km 166+100, Banwara to Bettadahalli section of NH-206 in the State of Karnataka, on Hybrid Annuity Mode under Bharatmala Priyojana (Package-Ill).

In a communication to National Stock Exchange, Ashoka Buildcon said the Company emerged as ‘the Lowest Bidder’ at the Financial Bid opening meeting held on February 13, 2020.

The quoted Bid Project Cost for the project is Rs 1,035.50 crore, it added. In November last year, Ashoka Concessions Ltd (ACL), a subsidiary of Ashoka Buildcon, had bagged a Letter of Award (LOA) from NHAI for a highway project in Telangana worth Rs 1,000 crore.

In a BSE filing, Ashoka Buildcon said, “ACL has received a LOA from NHAI for the project viz Four laning of NH-161 from Kandi to Ramsanpalle in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode. The accepted Bid Project Cost is Rs 1,000 crore.”

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Related Project : Rs.10355 Million New Four Laning Project in Karnataka

Research Desk

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