Ashoka Buildcon secures Rs 13.91 billion NHAI project LOA

28 Nov 2024 CW Team

Ashoka Buildcon has announced receiving a Letter of Award (LOA) from the National Highways Authority of India (NHAI) for a Hybrid Annuity Mode (HAM) road project in West Bengal. The project’s accepted bid cost is Rs 13.91 billion, excluding goods and services tax (GST).

In its stock exchange filing on Monday, the company stated that the project involves developing a four-lane economic corridor on the “Bowaichandi to Guskara-Katwa Road Section (Km 89.814 to Km 133.000) of NH 116A (Package-3)” under the HAM model.

The company also mentioned that it had been declared the lowest bidder (L-1) on November 18, 2024, for this project and another HAM project. The second project involves constructing a four-lane economic corridor on the “Kharagpur to Chandrakona Ghatal Road Crossing Section (Km 0.000 to Km 41.000) of NH 116A (Package-1)” in West Bengal.

The quoted bid price for the Kharagpur to Chandrakona Ghatal project is Rs 14 billion, excluding GST. However, the company has not yet provided updates on the LOA for the second project.

Both projects are planned to be completed within 910 days, including the monsoon period.

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