Ashoka Buildcon Wins ₹126.5 Cr Annual Project from REC Power

Ashoka Buildcon Limited has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for the establishment of a 400/220/132 kV AIS Sakoli project in Bhandara district. The project, awarded on a Tariff Based Competitive Bidding (TBCB) basis, has an annual consideration of ₹1265.37 Million (approximately ₹126.53 Crore) for 35 years. The scope includes establishing the substation and a 35-year Operation & Maintenance period. The company is required to furnish a Performance Bank Guarantee of ₹16.70 Crore within 10 days of the LOI date. The execution period for the establishment phase is 24 months. This award signifies a significant long-term revenue stream for the company.