Ashoka Buildcon gets Rs 860 cr contract from NHAI

Ashoka Buildcon on Monday said that it received a Rs 860 crore highway construction contract in Jharkhand from National Highways Authority of India (NHAI).

The contract to build the 40 kilometre highway stretch of the Khairatunda-Barwa Adda section is under a hybrid annuity mode (HAM) under which the government provides 40% of the project cost to start work, while the remaining investment is made by the developer.

The project will undertaken under National Highways Development Project (NHDP) Phase-V. The developer gets his return in the form of ‘annuities’ or ongoing payment through the period of the contract, usually in the form of toll paid by users.

The construction period of the project is two years and the its operational period is 15 years, the company stated.

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