Ashoka Buildcon achieves financial closure for two projects in Karnataka

October 26, 2016

Ashoka Buildcon Limited (ABL) has achieved financial closure for two road projects in Karnataka, as stated in a letter received from Karnataka Road Development Corporation Limited (KRDCL). The first project entails the augmentation of the existing state highway Bagewadi (on National Highway-4)-Bailhongal-Saundatti and will be implemented by Ashoka Bagewadi Saundatti Road Limited, a wholly owned subsidiary of ABL. The second project entails augmentation of the Hungund-Muddebihal-Talikot state highway and will be implemented by Ashoka Hungund Talikot Road Limited, also a wholly owned subsidiary of ABL. Both projects will be executed on a design-build-finance-operate-maintain-transfer annuity basis.