Ashoka Buildcon has won an order valued at over Rs.500 crore for a solar power project, the Nagpur-based construction company said in a stock exchange filing.
The company said that it has won the EPC package for a 150-mw solar photovoltaic project in Rajasthan. The order valued at Rs.502.33 crore (exclusive of GST) also includes operations and maintenance (O&M) for a period for three years from the date of successful completion of trial run, Ashoka Buildcon said.
The order has been placed by NTPC Renewable Energy Ltd, an NTPC Group company.
For Ashoka Buildcon, which specializes in road projects—both under EPC and concession mode—this NTPC order marks its diversification in the solar EPC space.
According to information available with T&D India, Ashoka Buildcon had an outstanding order book position of Rs.9,300 crore, as of September 30, 2020. [Latest figures are not yet available.]
Of this, road concessions (under the hybrid annuity model) accounted for 46.5 per cent and road EPC projects took up another 34.9 per cent.
Ashoka Buildcon is also present in the power T&D sector. As of September 30, 2020, this segment had outstanding orders of Rs.905.2 crore, accounting for 9.7 per cent of the total outstanding order book. The company’s power T&D projects are concentrated in Bihar, Uttar Pradesh and Jharkhand.
Railways had a share of 8.4 per cent in the order book as of December 30, 2020. The company has also forayed into city gas distribution (CGD) projects with Rs.43.5 crore worth of orders on hand, as of given date.
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