Ashoka Buildcon announced the declaration of 11 February 2025 as the Commercial Operation Date (CoD) for stretch of 8.595 KMs vide letter issued by Independent Engineer on 03 March 2025, in addition to stretch of 41.61 KMs already received w.e.f. 08 September 2023, (First CoD) vide NHAI letter dated 26 September 2023, for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India (NHAI) for the Project viz. “Four Laning of Tumkur Shivamogga Section from 66+540 (Design km 65+195) (Karadi) to km. 119+790 (Design km. 121+900) (Banwara) of NH-206 on Hybrid Annuity Mode under NHDP Phase-IV in the state of Karnataka (Package-II)” (Project).
The Project is executed by Ashoka Karadi Banwara Road (SPV), a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company. The Company also announces that the said SPV has received a Provisional Certificate for completion of 50.205 KMs in aggregate, out of total Project stretch of 56.705 KMs.
Further, the SPV is already eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of First CoD.