Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Ashoka Buildcon has informed that its wholly owned subsidiary in Kingdom of Saudi Arabia viz. Ashoka Buildcon Limited for Contracting has informed that it has submitted bid in Joint Venture with BEC Arabia Contracting Co. to Diriyah Company in the Kingdom of Saudi Arabia (KSA) for the project namely ‘Main Construction Works of Diriyah II - Delivery Partner for One Hotel’ (Project) The entity awarding the order, Diriyah Company, Kingdom of Saudi Arabia, Public Investment Fund, a state owned Sovereign Wealth Fund that invests in domestic and international sectors. BEC Arabia JV partner is a privately-held construction and engineering services offers turnkey construction solutions. It’s known for delivering large-scale infrastructure, civil construction, electromechanical works, landscaping, and integrated engineering services across the region. Further to apprise that the Joint venture has received Letter of Acceptance for the said Project. The accepted Bid Price for the Project is SAR 717,086,344.22, excluding VAT. The Company holds 49% stake in the Joint Venture as Partner. Accordingly, the share of the Company in the Project Bid Price is SAR 351,372,308.67 i.e. Rs.846.38 Crore. The trading window for the concerned Designated Persons of the Company and their immediate relatives will remain closed till 48 hours after this disclosure. The details required pursuant to Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 are given in Annexure I.
The above information is a part of company’s filings submitted to BSE.
