Ashoka Buildcon Secures Financial Closure for Rs 1,391 Cr NHAI Project

Big news from the infrastructure sector! Ashoka Buildcon Limited (ASHOKA) has announced a significant milestone for one of its key projects: achieving financial closure for a major National Highways Authority of India (NHAI) road development.

The company’s wholly-owned subsidiary, Ashoka Bowaichandi Guskara Road Private Limited, has successfully submitted all necessary financing documents to NHAI. This crucial step means the project now has the funding secured to move forward, a green light for construction to begin! 🚦

The project in question is the ‘Development of a 4-lane Economic Corridor from Bowaichandi to Guskara-Katwa Road Section (Km 89.814 to Km 133.000) of NH 116A (Package-3)’ in the state of West Bengal. This is a Hybrid Annuity Mode (HAM) project, a popular model where the government and the developer share the financial risk.

With a substantial bid project cost of Rs. 1,391 Crore (excluding GST), this is a significant undertaking. The construction phase is set for 910 days from the appointed date, followed by an operation period of 15 years from the Commercial Operation Date (COD). This long-term engagement highlights the project’s importance and the company’s commitment.

NHAI officially noted the financial close for this project on June 02, 2025, marking a pivotal moment for Ashoka Buildcon. This achievement underscores the company’s capability in securing funding for large-scale infrastructure developments and its continued contribution to India’s road network. Keep an eye out for more updates as this project progresses! 🏗️

source: Corporate Announcement

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