Ashoka Buildcon’s joint venture has received a Letter of Acceptance for a major construction project in Saudi Arabia. The project, valued at SAR 717,086,344.22 (excluding VAT), translates to approximately ₹846.38 Crore for Ashoka Buildcon’s 49% stake. The work involves main construction activities for the Diriyah II development, and the project is slated to be completed within 27 months.
Saudi Arabian Project Secured
Ashoka Buildcon’s joint venture has been awarded a Letter of Acceptance (LOA) for a significant construction project in Diriyah, Kingdom of Saudi Arabia. The project was secured by the joint venture with BEC Arabia Contracting Co. The official announcement was made on February 06, 2026.
Project Details and Value
The project, titled ‘Main Construction Works of Diriyah II – Delivery Partner for One Hotel,’ has an accepted bid price of SAR 717,086,344.22, excluding VAT. Ashoka Buildcon holds a 49% stake in the Joint Venture, resulting in a share of SAR 351,372,308.67, equivalent to approximately ₹846.38 Crore.
Project Timeline
The project is expected to be completed within a period of 27 months from the effective date, which is February 05, 2026.
Source: BSE
