In a significant development, Ashoka Buildcon Limited has announced the receipt of a Provisional Certificate for its National Highways Authority of India (NHAI) project, marking a key milestone in its operational timeline. The project, executed through its wholly-owned subsidiary, Ashoka Baswantpur Singodi Road Private Limited, signifies a substantial step forward in enhancing India’s highway infrastructure.
Project Overview
The project encompasses the development of a 6-lane access-controlled greenfield highway stretching from KM 162.500 to KM 203.100, specifically the Baswantpur to Singondi Section of NH 150 C. This initiative is part of the Bharatmala Pariyojana, a government program designed to optimize and expand India’s national highway network. The total project length is 40.600 KM, with 39.07 KM now successfully completed.
Commercial Operations Date (CoD)
The declaration of September 15, 2024, as the Commercial Operations Date (CoD) comes following a letter issued by the Independent Engineer on October 28, 2024. This date is crucial as it signifies the transition from construction to operational status, allowing for the commencement of revenue generation.
Annuity Eligibility
With the CoD declared, Ashoka Baswantpur Singodi Road Private Limited is now eligible to receive annuity payments from NHAI. This arrangement is structured over a period of 15 years, with payments to be made every six months starting from the CoD. Such financial backing provides a reliable revenue stream that supports the long-term sustainability of the project.
Impact on Highway Infrastructure
The completion of this project not only strengthens the highway network but also facilitates smoother and more efficient transportation for goods and services, which is vital for economic growth. The 6-lane access-controlled design aims to enhance traffic management, reduce congestion, and improve overall safety for commuters.
Summary
Ashoka Buildcon Limited’s achievement in reaching the CoD for this vital highway project demonstrates its commitment to advancing infrastructure development in India. As the nation continues to invest in its transportation framework, projects like these play a crucial role in supporting economic progress and connectivity. The successful execution of the Baswantpur to Singondi highway serves as a testament to Ashoka Buildcon’s expertise and capability in delivering significant infrastructure projects under the Hybrid Annuity Model (HAM).
This milestone not only represents a triumph for Ashoka Buildcon but also sets a positive precedent for future infrastructure initiatives across the country. Stakeholders in the industry can look forward to more developments as the company continues to leverage its experience to contribute to India’s growing infrastructure needs.
Visit Our Web Store
Ready to access insights on new projects in India? Visit our web store at www.projectxmedia.in to purchase a single issue or opt for an annual subscription. Empower your business with actionable data and stay informed with ProjectX India.By subscribing to ProjectX India, you position your business for growth and success in India’s dynamic market. Don’t miss out on valuable project opportunities—get your issue today and tap into the power of comprehensive insights on upcoming projects and ongoing projects in India!