Ashoka Buildcon receives provisional certificate for NHAI project
The project is executed by Ashoka Kharar Ludhiana Road (SPV)
Ashoka Buildcon has received provisional certificate for a road project of the National Highways Authority of India (NHAI) in the state of Punjab.
The company has announced the declaration of 31 March 2020 as the commercial operation date (CoD) for its hybrid annuity mode (HAM) project of NHA on 28 May 2020 for its road project.
The project involves four- and six-laning of Kharar to Ludhiana section of NH-95 (new NH-05) from Kharar 10.185 km (design chainage) to Samrala Chowk, Ludhiana 86.199 km (design chainage) in Punjab on HAM.
The project is executed by Ashoka Kharar Ludhiana Road (SPV), a wholly-owned subsidiary of Ashoka Concessions, a subsidiary of the company.
Consequent to the declaration of CoD, the SPV is eligible for receipt of annuity payments from NHAI within six months from the date of achievement of CoD i.e. six months from 31 March 2020.
The company’s said SPV has received provisional completion certificate for completion of 69.599 km out of total project highway length of 76.014 km