Ashoka Buildcon receives provisional completion certificate for KRDCL project

Ashoka Buildcon announced the declaration of 01 October 2018 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of Karnataka Road Development Corporation ('KRDCL') executed by its Subsidiary viz. Ashoka Hungund Talikot Road ('SPV'), entitling the SPV to receive annuity payments.

Consequent to the allocation of CoD, the SPV is eligible for receipt of Annuity payment from KRDCL within six months from the date of achievement of COD i.e. six months from 01 October 2018.

The Company also announces that the said SPV has received a Provisional Completion Certificate for completion of 46.57 KMs out of total Project Length of 56.98 KMs of the Project viz. PROJECT NO. WCP 7, Design, Build, Finance, Operate, Maintain and Transfer (DBFOMT) of Existing State Highway Hungund - Muddebihal - Talikot in the State of Karnataka on DBFOMT Annuity Basis.

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