Ashoka Buildcon Secures Major Contract for Highway Construction from Guyanese Authority
Ashoka Buildcon Limited has received a Letter of Acceptance (LOA) for a significant project awarded by the Central Housing and Planning Authority in Guyana. The contract involves the construction of a four-lane highway, with the accepted value standing at GYD$ 7,455,455,867, which equates to 35.42 Million USD.The project entails the construction of a Four Lane Highway running from Versailles in West Bank Demerara to Parika in East Banbk Essequibo, Region No. 3. The contract was awarded by an overseas entity and is structured as an Item Rate contract.
Ashoka Buildcon Limited's successful bid secured the rights for this infrastructure project, which has a committed execution period of 20 months. There is no indicated interest from the promoter or any related parties in the awarding authority, nor will the transaction fall within Related Party Transactions categories.
Key details regarding the contract and the awarded entity are summarized below:
| Particulars | Details of the Project |
|---|---|
| Entity Awarding Contract | Central Housing and Planning Authority, Guyana |
| Nature of Order | Item Rate |
| Status | Overseas Entity |
| Accepted Value | GYD$ 7,455,455,867 (35.42 Million USD) |
| Project Scope | Construction of Four (4) Lane Highway from Versailles to Parika, Region No. 3 |
| Execution Timeline | 20 months |
ASHOKA Stock Price Movement
Shares of Ashoka Buildcon Limited slipped on Thursday, settling at ₹131.03 after shedding 2.31% from the previous close. The equity saw strong trading activity, with 711,818 shares traded during the session and managed to stay within the intraday range defined by a low of ₹130.50 and a high of ₹135.79.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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