Ashoka Buildcon,  engaged in building and operating road and bridge projects in India, announced that company along with GVR Infra Projects, as a consortium (51%:49%) had submitted its bid to The Chief Project Officer, Karnataka State Highways Improvement Project ('KSHIP') engaged by Government of Karnataka (Public works Department) for the Project viz. 'Project no. WAP - 2: - Design, Build, Finance, Operate, Maintain and Transfer (DBFOMT) the existing State Highway (SH18) from Mudhol to Maharashtra Border (Approx length 107.937 Kms) in the State of Karnataka on DBFOMT Annuity Basis'' ('Project').

The project is on annuity basis with a concession period of 10 years and KSHIP cost of the project is Rs 3.18 billion.

The Chief Project Officer, Karnataka State Highways Improvement Project, has declared the consortium as a 'Selected Bidder' for the aforesaid project vide letter of award dated Feb. 01, 2014.

Shares of the company gained Rs 2.15, or 3.77%, to trade at Rs 59.15 at the BSE (9:45 a.m., Monday).