Scope Of Project
The Nashik-based company, in an exchange filing released today, said that this development will be carried out under the Public-Private Partnership (PPP) mode in the capital of Chhattisgarh, Raipur. The project is spread across an area of 38,922 sq. mtrs.
Furthermore, the company had submitted a bid in a joint venture (JV), where Ashok Buildcon is a lead member, with a 51% stake, for the following Project to Chhattisgarh State Industrial Development Corporation Limited (CSIDC).
The infra company is expected to complete the project in 5 years. The company said that the lease period is 30 years, extendable up to 90 years. The amount of premium to be paid is ₹112.40 crore, and the lease rent is 2% of ₹112.40 Crore at an escalation of 10% every 4th year.
Earlier this year, in January, the company had bagged a Letter of Acceptance (LOA) from the Public Works Department, Work Division I, Daman, for the construction of a signature bridge.
This project involved linking Devka Sea Front Road at Parkota Sheri in Daman with Jampore Sea Front Road near the lighthouse.
Also Read: Ashoka Buildcon wins ₹308 crore contract to build signature bridge in Daman
Company Shares In Focus
When we take a quick glance at the company’s stock’s recent performance, the infrastructure company surged on the last day of the trading week on Friday, rising by close to 7%.
However, the company’s shares have seen a dip of over 26% this year alone. This has resulted in the company’s shares dropping 44.17% from their 52-week high of ₹220.85. The current price stands at ₹123.30 per share.
