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Ashoka Buildcon Receives Letter of Acceptance for Contract Worth $72.4 Million in Angloa

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Ashoka Buildcon (NSE:ASHOKA, BOM:533271) has received a letter of contract acceptance for an order worth $72.4 million

from the Ministry of Energy and Water, the Republic of Angola, for the electricity sector improvement, according to a Friday filing to the Indian stock exchanges.

The contract is for the design, supply, installation, and commissioning of the rehabilitation of electricity distribution networks for Lot 5 in Luanda City in the Republic of Angola.

The project is expected to be completed in 24 months.

The company's shares were down 2% in recent trade.

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