Ashoka Buildcon consortium bags Rs 318 crore road project in Karnataka

NEW DELHI: Infrastructure firm Ashoka Buildcon said a consortium led by it has bagged a Rs 318-crore road project from the Karnataka government.

"The company along with GVR Infra Projects, as a consortium (51:49) had submitted bid for the project involving design, build, finance, operate, maintain and transfer (DBFOMT) of the State Highway from Mudhol to Maharashtra Border, Ashoka Buildcon said in a statement.

"The Chief Project Officer, Karnataka State Highways Improvement Project, has declared the Consortium as a "Selected Bidder" for the aforesaid Project," it said.

The Rs 317.60-crore project on DBFOMT is on annuity basis with a concession period of 10 years.

The project involves improvement of 110 km of stretch. Shares of the company were trading at Rs 59.15 apiece, up 3.77 per cent from the previous close on the BSE at 1250 hours.