Ashoka Buildcon’s subsidiary — Ashoka Concessions (ACL) has received a Letter of Award (LOA) from the National Highways Authority of India (NHAI) for a highway project in Telangana worth Rs 1,000 crore. The company has received a LOA for the project viz Four laning of NH-161 from Kandi to Ramsanpalle in the State of Telangana under Bharatmala Pariyojna on Hybrid Annuity Mode.
Earlier this week, the company had submitted its bid to NHAI for the said project, and had emerged as the lowest bidder at the financial bid opening meeting held on November 18, 2019.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.