Ashoka Buildcon Limited announced the short closure of its Engineering, Procurement, and Construction (EPC) project in Ivory Coast, according to a regulatory filing on September 19, 2025. The closure agreement was executed on the same day with M/s Serneke International Limited, Sweden.
The project, which involved the construction of 100 drinking water wells and the supply and installation of drinking water supply units in 35 villages in Ivory Coast, was originally subcontracted to Ashoka Buildcon by Serneke International Limited, with a bid price of Euros 18.50 million.
Both Ashoka Buildcon and Serneke International Limited mutually decided to foreclose the project after considering the contract's terms and conditions and the project's progress. The company stated that there would be no negative financial impact resulting from this closure.
The decision to foreclose the project was influenced by delays in obtaining necessary approvals, the availability of land for work, and approvals for drawings and designs.
| Particulars | Details |
|---|---|
| Parties to the order/contract | Serneke International Limited, Sweden |
| Nature of order/contract | Construction of 100 drinking water wells and supply and installation of drinking water supply unit in 35 villages of Ivory Coast (Project) |
| Date of execution of the order/contract | Final closure of the Contract agreement signed on 19-09-2025 |
| Details of amendment or reasons for terminations and impact thereof |
|
The decision to foreclose the project was influenced by overall delays in obtaining necessary approvals and the availability of land for work, as well as delays in approvals for drawings and designs.
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