New Launch6 Feb 2026, 03:03 pm
Ashoka Buildcon Subsidiary Wins SAR 351 Crore Contract in KSA Joint Venture
AI Summary
Ashoka Buildcon Ltd's wholly owned subsidiary in the Kingdom of Saudi Arabia, Ashoka Buildcon Limited for Contracting, has submitted a bid in a Joint Venture with BEC Arabia Contracting Co. to Diriyah Company for the 'Main Construction Works of Diriyah Il — Delivery Partner for One Hotel' project. The Joint Venture has received a Letter of Acceptance for the project with a bid price of SAR 717,086,344.22, excluding VAT. Ashoka Buildcon holds a 49% stake in the Joint Venture, amounting to a share of SAR 351,372,308.67 (approximately INR 846.38 Crore) in the project bid price.
Key Highlights
- Ashoka Buildcon's subsidiary wins a contract worth SAR 717,086,344.22 in KSA
- The contract is for the 'Main Construction Works of Diriyah Il — Delivery Partner for One Hotel' project
- The Joint Venture has received a Letter of Acceptance for the project
- Ashoka Buildcon holds a 49% stake in the Joint Venture
- The Company's share in the project bid price is approximately INR 846.38 Crore