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India's Ashoka Buildcon has been selected by the National Highways Authority of India (NHAI) as preferred bidder for the 4/6 Laning of Kharar to Ludhiana Section of NH-95 on Hybrid Annuity PPP Mode in India, after submitting the lowest bid for the project.

The company proposed a total project investment of INR16 billion (US$237 million). As we informed in early April, the proposals were submitted on April 14th.

The project comprises the development, maintenance and management of 4/6 Laning of Kharar (Km. 10+185) to Ludhiana Section of NH-95 (New NH-05) (Km. 86+199) in the state of Punjab.

The total length of the road project is approximately 76 km.

The project will help in expediting the improvement of infrastructure in Punjab and in reducing the time and cost of travel for traffic, particularly heavy traffic, plying between Kharar and Ludhiana section. The development of this stretch will also help in uplifting the socio-economic condition of this region in the State. It would also increase employment potential for local labourers for project activities.

Ashoka Buildcon has also informed that the NHAI awarded the firm the contract for the 2/4 laning with paved shoulders of Govindpur (Rajgunj) - Chas - West Bengal Border section of NH-32 in Jharkhand on NHDP Phase-IV on EPC mode.

We have recently informed of other projects awarded by the NHAI:

• Six lane of Greenfield Proposed Udaipur bypass Package-IV of Kishangarh-Udaipur-Ahmedabad stretch on Hybrid Annuity Basis
• Four Laning of Mahuva to Kagavadar Phase IV on Hybrid Annuity Basis
• Four Laning of Talaja - Mahuva Section of NH 8E Phase IV on Hybrid Annuity Basis
• Six Laning of Agra - Etawah Bypass section of NH-2 on DBFOT (toll) pattern

All these projects have been awarded under the Hybrid Annuity Mode, a mix of the engineering, procurement and construction (EPC) model and the build operate transfer (BOT) model. The Authority and the private companies share the total project cost in the ratio of 40: 60 respectively.