Ashoka Concessions limited bags contract from NHAI

Ashoka Buildcon Limited said its subsidiary Ashoka Concessions Limited (ACL) has received Rs 1,600 crore contract from National Highways Authority of India (NHAI).

The contract is for the “4/6 laning of Kharar to Ludhiana section of NH-95 in the State of Punjab” and will be built on the Hybrid Annuity mode.

In the hybrid annuity model (HAM), the government commits up to 40% of the project cost over a period and hands the project to the developer to start road work, clearing the way for stranded road projects and reviving investments.

Ashoka Buildcon Ltd. is one of the largest highway developers in the country with a portfolio of over 28 PPP (Public Private Partnership) projects.