Ashoka Buildcon wins Rs 13.9 bn highway projects
Ashoka Buildcon bagged two highway projects worth Rs 13.9 billion from the NHAI. September 2020
Despite lockdown and prevailing situation, NHAI took various initiatives to instill confidence in the bidders of the sector. To ease the liquidity crunch and ensure cash flow to the contractors, NHAI ensured that no payments are delayed due to closure of office and disbursed Rs 100 billion during lock down in March 2020 using digital platforms, said a release by the authority. In the first quarter of the current fiscal, NHAI disbursed more than Rs 150 billion to the vendors. Additionally, steps such as monthly paymentsto the contractors were taken. Such moderations saw an encouraged participation from the bidders resulting in spiraling effect on the growth of the road sector.
With the increase in awards and expanding highway construction, NHAI has got a good beginning for a year marred by the global outbreak of the pandemic. NHAI is committed to develop the national highways infrastructure at a rapid pace and envisions to provide safe, smooth, and seamless travel experience on national highways , stated the release.
The authority also aims to construct 23 new highways by 2025.