Latest news with #AshokaBuildconLimited
Business Upturn
08-07-2025
- Business
- Business Upturn
Ashoka Buildcon achieves financial closure for Rs 1,391 crore West Bengal highway project
By Aditya Bhagchandani Published on July 8, 2025, 18:57 IST Ashoka Buildcon Limited announced that it has achieved financial closure for its ₹1,391 crore Hybrid Annuity Mode (HAM) project in West Bengal. In a filing to the stock exchanges on July 8, 2025, the company informed that its wholly owned subsidiary, Ashoka Bowaichandi Guskara Road Private Limited, has submitted the duly executed financing documents to the National Highways Authority of India (NHAI). The financial closure was confirmed by NHAI via a letter dated July 7, 2025, noting the closure date as June 2, 2025. Project details Scope of work: Development of a 4-lane economic corridor from Bowaichandi to Guskara-Katwa Road (Km 89.814 to Km 133.000 of NH-116A, Package-3) Project cost: ₹1,391 crore (excluding GST) Construction period: 910 days from the appointed date Operation period: 15 years from COD (Commercial Operation Date) Mode: Hybrid Annuity Mode (HAM) Awarding authority: National Highways Authority of India (NHAI) The project is part of India's infrastructure development push and is expected to improve connectivity and reduce travel time in the state of West Bengal. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
19-06-2025
- Business
- Business Upturn
Ashoka Buildcon secures LoA for Rs 561.54 crore road project in Guyana
Ashoka Buildcon Limited has achieved a significant milestone by securing an international infrastructure project from the Government of Guyana. The company has received the Letter of Acceptance (LoA) dated June 18, 2025, from the Public Works Department of Guyana for the prestigious East Bank-East Coast Road Linkage Project Phase 2 (Eccles to Providence) . Valued at US$ 67.25 million, this road project is a key component in enhancing Guyana's transportation network. Ashoka Buildcon also executed the formal Contract Agreement with the Guyanese authorities on the same date, marking the official start of this international collaboration. The project will be executed under an item rate contract model and is expected to be completed within a timeframe of 18 months. This marks a major global win for Ashoka Buildcon and strengthens its international presence in the infrastructure sector. Notably, this project is an entirely international venture, with no related party transactions or promoter group involvement. The deal further highlights Ashoka Buildcon's technical expertise and growing recognition as a trusted name in global infrastructure development. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
06-06-2025
- Business
- Business Upturn
Ashoka Buildcon's Rs 1,673 crore infrastructure project halted following Bombay High Court order
Ashoka Buildcon Limited has announced a major setback regarding its infrastructure project awarded under the Navi Mumbai Airport Influence Notified Area (NAINA) initiative. The company, in joint venture with Aakshya Infra Projects Private Limited, was previously selected by the City & Industrial Development Corporation of Maharashtra Ltd. (CIDCO) for the 'Integrated Infrastructure Development' project. The ₹1,673.25 crore project, awarded via a Letter of Acceptance dated October 10, 2024, involved the development of 20-meter-wide and above roads, construction of major and minor structures such as flyovers, minor bridges, VUPs, and PUPs, along with allied electrical works in TPS-10 and TPS-11 regions under the NAINA scheme. Advertisement However, as per a communication from CIDCO dated June 5, 2025, Ashoka Buildcon has been instructed to halt all project-related activities. This directive follows a ruling by the Hon'ble High Court of Bombay, which quashed the financial bid that led to the contract award. Ashoka Buildcon has stated that the material and financial impact of the halt will be evaluated and disclosed in due course. No contract execution had taken place as of the date of the notice.
Business Upturn
05-06-2025
- Automotive
- Business Upturn
Ashoka Buildcon bags Rs 1,387 crore traffic management projects across Maharashtra
By Aman Shukla Published on June 5, 2025, 15:36 IST Ashoka Buildcon Limited, along with its subsidiary Ashoka Purestudy Technologies Private Limited (APTPL), has received confirmation for multiple contracts from the Motor Vehicles Department of Maharashtra. The projects involve the design, implementation, integration, operation, and maintenance of Intelligent Traffic Management Systems (ITMS) across several key regions in the state. The awarded contracts cover the Nagpur, Mumbai, Pune, Konkan & Western Maharashtra, and Marathwada circles. Each project is set to run for a duration of ten years following the completion of a 15-month implementation period. The total estimated value for all projects, including GST, stands at over ₹1,387 crore, with individual allocations ranging from around ₹179 crore in Nagpur to nearly ₹315 crore in the Konkan & Western Maharashtra and Marathwada regions. These contracts mark a significant infrastructure initiative by the state's transport authorities aimed at enhancing traffic management and road safety. The work orders are expected to be issued soon, which will confirm the final value of the projects. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Deccan Herald
13-05-2025
- Deccan Herald
Nine injured in road crash near Bengaluru airport, one critical
According to the police, there were 35 employees of highway developer and construction engineering firm Ashoka Buildcon Limited in the bus bearing the registration KA 03 C 3642.
