Ashoka Buildcon-led group bags Rs. 318 cr Karnataka road proj.

Infrastructure firm Ashoka Buildcon said a consortium led by it has bagged a Rs. 318-crore road project from the Karnataka government.

'The company along with GVR Infra Projects, as a consortium (51:49) had submitted bid for the project involving design, build, finance, operate, maintain and transfer (DBFOMT) of the State Highway from Mudhol to Maharashtra Border', Ashoka Buildcon said in a statement.

'The Chief Project Officer, Karnataka State Highways Improvement Project, has declared the Consortium as a 'Selected Bidder' for the aforesaid Project,' it said.

The Rs. 317.60-crore project on DBFOMT is on annuity basis with a concession period of 10 years.

The project involves improvement of 110 km of stretch.

BS