Ashoka Buildcon update on NHAI project in Andhra Pradesh

Ashoka Buildcon update on NHAI project in Andhra Pradesh

Oct 14, 2020 02:10 IST capital market

Ashoka Buildcon intimated the declaration of September 24, 2020 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) on 13 October 2020, for the Project viz. 4/6 laning from Ranastalam to Anandapuram (Visakhapatnam) (from Km 634.000 to Km 681.000) section of NH05 (New NH-16) in the State of Andhra Pradesh under NHDP Phase- V (Package II) on Hybrid Annuity mode Basis (Project).

The Project is executed by Ashoka Ranastalam Anadapuram Road, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions, a Subsidiary of the Company.

Further to inform that consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI within 6 months from the date of achievement of CoD i.e. 6 months from 24 September 2020.

The Company also announces that the said SPy has received a Provisional Completion Certificate for completion of 45.550 KMs out of total Project highway Length of 47.00 KMs.

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