Infrastructure company Ashoka Buildcon on Thursday said it has received a letter of award (LoA) from NHAI to develop a section of National Highway 150 C on a hybrid annuity model.
In 2019, the government had approved the hybrid annuity model (HAM) for building national highways (NH) to speed up the construction of roads in the country by renewing the interest of private developers in highway projects.
In a regulatory filing, Ashoka Buildcon Limited said it "has received an LoA from National Highways Authority of India (NHAI) for the project viz development of 6 lane access controlled greenfield highway from km 162.500 to KM 203.100, Baswantpur to Singondi section of NH 150 C…on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana”.
The accepted bid project cost for the project is Rs 1,079 crore, it said.
The construction period is 912 days from the appointed date.