Ashoka Buildcon has received Arbitration award of Rs 124.30 crore for one of its Projects viz. Ahmednagar - Karmala Road State Highway No. 141, Km 0/0 to km 80/600 under BOT Scheme (with toll rights) awarded by Government of Maharashtra, Public Works Department.
The work was awarded to the company in the year 1999 with concession period of 16 years and 9 months including construction period of 3.5 years. However, the toll collection was stopped prematurely from November 17, 2012 vide Govt. Notification issued on November 9, 2012.
The Nashik-based company is among the league of small companies that are making it big in the highway sector, which has seen a high number of toll-based build-operate-transfer projects in the past.
