Ashoka Buildcon has received Letter of Award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. The company will be developing the land parcels located at NS-C02 and NS-C03 in CTS No. 145-A (Part) of Village Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of Potential Built up area of 108,494 square meters (1.17 million square feet) for an aggregate lease period of 49 years.
The company will make payment of Refundable Security Deposit amounting to Rs 329.35 crore and Annual Lease Rental of Rs 15.24 crore to MIAL with an escalation of 15% every 3 years.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
