A Buildcon bags ₹1,382-cr HAM contract in Karnataka

The wholly owned subsidiary of Ashoka Buildcon, Ashoka Concessions Limited (ACL) in a recent development has won a ₹1,382 crore highway contract in Karnataka from NHAI. The contract in question involves the construction of 56-km long highway stretch under hybrid annuity (HAM) model under which the government provides 40 per cent of the project cost to start work, while the remaining portion of investment is carried out by the developer, said the company in an official statement, adding that ACL had submitted its bid to NHAI for the Tumkugsr - Shivamogga section of highway from Bettadahalli Shivamogga (Package IV) in Karnataka on HAM model under Bharatmala project. ACL emerged as the lowest bidder at the financial bid opening meeting held recently in New Delhi. It is worth mentioning here that prior to this, the NHAI had decided that the development of Tumkur-Shivamogga Section of NH-206 in Karnataka will be carried out on HAM model.