Infrastructure firm Ashoka Buildcon today said it has received a letter of award for widening of a highway stretch in Punjab from NHAI at a bid cost of Rs 1,600 crore.
“The company’s subsidiary, viz, Ashoka Concessions Ltd has received letter of award from National Highways Authority of India (NHAI) for … 4/6 laning of Kharar to Ludhiana section of NH 95 in Punjab on hybrid annuity mode,” Ashoka Buildcon said in a filing to the BSE. The bid project cost is Rs 1,600 crore, the company said. The project is part of Rs 2,070-crore highways project in Punjab approved by the Cabinet in June under hybrid annuity mode to ensure faster movement of traffic between Chandigarh and Ludhiana. The highway at present is only two-lane and is scheduled to be completed in 30 months. The Ministry of Road Transport and Highways had in 2006 approved the Chandigarh-Ludhiana section of NH 21 and NH 95 through public-private-partnership (PPP) on build, operate, transfer (BOT) basis under NHDP Phase V.