Ashoka Buildcon SPV receives Provisional Certificate for NHAI Project

11 Mar 2022 , 02:05 PM

Ashoka Buildcon Limited informed the exchanges Thursday about the declaration of October 25, 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) vide letter issued by Independent Engineer on March 09, 2022 for the Project viz. Six Laning of Belgaum – Khanapur Section of NH-4A from km. 00.000 to km. 30.800 in the State of Karnataka under NHDP Phase-IV on Hybrid Annuity Mode (Project).

The Project is executed by Ashoka Belgaum Khanapur Road Private Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company.

At around 2.08 pm, Ashoka Buildcon Ltd was trading at Rs90.45 per piece up by Rs0.1 or 0.11% from its previous closing of Rs90.35 per piece on the BSE.

Further to inform that consequent to the declaration of CoD, the SPy is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of CoD.

The Company also announces that the said SPV has received a Provisional Certificate for completion of 16.345 KMs out of total Project highway Length of 30.800 KMs.