Ashoka Buildcon’s Wholly Owned Subsidiary - Ashoka Infraways (SPV), which had executed Dewas Bypass Road Project in the State of Madhya Pradesh, has received an Arbitral Award whereby the SPV has been awarded 1384 additional toll days against various claims filed by SPV. Additionally Arbitral Tribunal has also awarded an amount of Rs 37.71 crore along with an interest at the rate of 18% towards the compensation for loss of toll on account of closure of 2 toll plazas and an Arbitration Cost of Rs 73.17 lakh along with an interest at the rate of 18% from May 5, 2018 till the date of payment.
The project had been awarded by Government of Madhya Pradesh, Executive Engineer, Public Works Department, Dewas. The toll collection at the said Project had been stopped since August 24, 2015. The toll collection for the quarter ended June 30, 2015 was Rs 6.56 crore.
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.
