Ashoka Buildcon has secured Letter of Acceptance (LoA) from Chhattishgarh State Industrial Development Corporation (CSIDC) for a project in Chhattishgarh. The project involves development of Gems & Jewellery Park under Public Private Partnership (PPP) mode at Raipur, Chhattishgarh over area of 38,922 square metres. The project has a construction period of 5 years and a lease period of 30 years, extendable up to 90 years. The amount of premium to be paid is Rs 112.40 crore and lease rent of 2% of Rs 112.40 crore at escalation of 10% every fourth year.
Earlier, the company had submitted bid in Joint Venture, where the company is a Lead member, with 51% stake, for the said project.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis.
