Ashoka Buildcon emerges as lowest bidder for ₹443 crore railway project

Infrastructure firm Ashoka Buildcon Tuesday said its joint venture firm has emerged as the lowest bidder for a ₹443.23 crore worth railway project in Punjab.

Ashoka Buildcon has submitted the bid to Rail Vikas Nigam Ltd in joint venture with Stroytech Services LLC, wherein the company is a lead member, for the project in the Punjab, Ashoka Buildcon said in a regulatory filing.

"The company has emerged as the lowest bidder (L-1) for package 2, the quoted value of which is ₹443.23 crore, with a completion period of 36 months for package," the company added.

The project includes construction of roadbed, minor bridges, supply of ballast, installation of track, electrical (railway electrification and general electrification), signalling and telecommunication works for doubling of track between Kakrala halt and Hadiaya from 57.50 km to 115.64 km in Ambala division of Northern Railway.

Shares of Ashoka Buildcon were trading 5.41% higher at ₹127.70 apiece on BSE.