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Ashoka Buildcon Ltd. has announced the declaration of November 19, 2022, as the Commercial Operation Date (CoD) for its project from the National Highways Authority of India (NHAI) under the Bharatmala Pariyojna.

Ashoka Buildcon is engaged in designing, engineering, building, financing, procurement, construction, development, commissioning, operation, and maintenance of the NHAI project under the Hybrid Annuity Mode (HAM).

Ashoka Buildcon’s wholly-owned subsidiary Ashoka Kandi Ramskapelle Road Pvt. Ltd. is executing the project.

Consequent to the declaration of the CoD, the special purpose vehicle (SPV) is eligible for receipt of annuity payments from NHAI for the operation period of 15 years at an interval of six months from the date of achievement of CoD.

Ashoka Buildcon further stated that its SPV has received a provisional certificate for completion of 37.92km out of the total project highway length of 39.980km.

It also submitted bids for Dakshinanchal Vidyut Vitran Nigam Ltd. and Madhya Pradesh PoorvKshetra Vidyut Vitaran Company Ltd.

Last month, the subsidiaries of Ashoka Buildcon Ltd. - Ashoka Concessions Ltd. (ACL) and Viva Highways Ltd. (VHL)- entered into a share purchase agreement (SPA) with the National Investment and Infrastructure Fund Ltd. (NIIF) and Jaora-Nayagaon Toll Road Company Pvt. Ltd. (JTCL) for the sale of 28.7 crore equity shares in JTCL for a consideration of Rs 691 crore.

Shares of Ashoka Buildcon ended 0.63 percent higher at Rs 88.15 on Tuesday.

(Edited by : Rukmani Krishna)