2 hours ago
Ashoka Buildcon has received a Letter of Acceptance from the Public Works Department, Work Division-I, Daman for the construction of a signature bridge connecting Jampore Sea Front road near the Light House to Devka Sea Front road at Parkota Sheri. The project, awarded at ₹307.71 crore excluding GST, is on a Design, Build, and Operate basis and is to be completed within 30 months.
Construction engineering company Ashoka Buildcon Ltd on Thursday (January 22) announced that it has received a Letter of Acceptance (LOA) from the Public Works Department, Work Division-I, Daman, for the construction of a signature bridge.
The project involves connecting Jampore Sea Front road near the Light House to Devka Sea Front road at Parkota Sheri in Daman.
The accepted bid for the project is ₹307.71 crore, excluding GST. The contract is awarded by a domestic entity and is structured on a Design, Build, and Operate basis. The company is required to complete the design and build work within a period of 30 months.
Also Read: Ashoka Buildcon’s Q2 results: Net profit collapses 83%, revenue declines 25.6%
Ashoka Buildcon confirmed that the project does not involve any related party transaction, and the promoter or promoter group has no interest in the entity awarding the contract.
Last year in December, Ashoka Buildcon Ltd said it had secured an additional work order worth ₹447.21 crore, including taxes, from the Brihanmumbai Municipal Corporation (BMC) for its ongoing flyover construction project on the Sion Panvel Highway.
The additional scope pertains to the construction of flyover Arm-1 and Arm-2 at the T Junction at Maharashtra Nagar in the M/E Ward. The contract has been awarded by a domestic entity, the Brihanmumbai Municipal Corporation, on a percentage rate basis.
Also Read: Ashoka Buildcon bags North Western Railway project worth ₹539 crore
Shares of Ashoka Buildcon Ltd ended at ₹145.20, up by ₹3.45, or 2.43%, on the BSE.
