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Ashoka Buildcon shares soar 14% on project win, CRISIL rating update
The company has received a Letter of Acceptance for the development of a Gems & Jewellery Park under the Public Private Partnership (PPP) mode at Raipur, Chhattisgarh
Ashoka Buildcon jumps after winning Raipur Gems & Jewellery Park PPP project
Ashoka Buildcon jumped 11.11% to Rs 137 after the company secured a public-private partnership (PPP) project from Chhattisgarh State Industrial Development Corporation (CSIDC) for the development of a Gems & Jewellery Park in Raipur.
Ashoka Buildcon gets LoA for development of gems & jewellery park in Raipur
The infra company is expected to complete the project in 5 years. The company said that the lease period is 30 years, extendable up to 90 years. The amount of premium to be paid is ₹112.40 crore, and the lease rent is 2% of ₹112.40 Crore at an escalation of 10% every 4th year.