Ashoka Buildcon Secures Rs.474 Crore Bridge Project in Bihar
Filing Summary
Ashoka Buildcon Limited, in a joint venture with Aakshya Infra Project Private Limited, has received a Letter of Acceptance from Bihar Rajya Pul Nirman Nigam Limited for a bridge construction project. The project involves the construction of an H.L.R.C.C. Bridge over the River Gandak in Muzaffarpur, Bihar, on an EPC basis. The accepted bid price is Rs.474 Crore, including GST, with Ashoka Buildcon holding a 51% stake, amounting to Rs.242 Crore. The project is to be completed in 30 months, with no related party transactions involved.
Ashoka Buildcon Limited has announced the receipt of a Letter of Acceptance from Bihar Rajya Pul Nirman Nigam Limited for a bridge construction project. The company, in a joint venture with Aakshya Infra Project Private Limited, will undertake the construction of an H.L.R.C.C. Bridge over the River Gandak in Muzaffarpur, Bihar. The project will be executed on an Engineering, Procurement & Construction (EPC) basis.
The accepted bid price for the project is Rs.474 Crore, inclusive of GST. Ashoka Buildcon holds a 51% stake in the joint venture, translating to a share of Rs.242 Crore in the project bid price. The project is scheduled to be completed within a timeframe of 30 months.
The project involves the construction of a bridge with a total length of 2280 meters, along with other major bridges in the approach road between Fatehabad in Paroo block and Chanchaliya in Saraiya Block. The project is awarded by a domestic entity, and there are no related party transactions involved.
The trading window for designated persons of the company and their immediate relatives will remain closed until 48 hours after this disclosure. The details required pursuant to the SEBI Master Circular are provided in the filing’s annexure.
Aakshya Infra Project Private Limited is a construction company involved in infrastructure development projects. The company collaborates with various partners to execute large-scale projects, focusing on delivering quality infrastructure solutions.
Ashoka Buildcon Limited is engaged in the construction and infrastructure development sector. The company focuses on executing projects in roads, bridges, and power transmission. It aims to expand its portfolio through strategic joint ventures and partnerships in the infrastructure domain.