Construction engineering company Ashoka Buildcon is planning to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar, COO-Renewable Energy Mayank Sharma announced on Friday. The company signed a memorandum of understanding with the state government during the Bihar Business Connect 2024.
Based in Maharashtra, Ashoka Buildcon specializes in highway construction, power distribution, and solar projects. Sharma explained that the firm plans to establish a 1,250 MW solar project and use the clean electricity generated to produce green hydrogen by splitting water.
“The first phase of the plant will be located in Begusarai, Bihar,” Sharma said. Green hydrogen, known as the cleanest source of energy, produces only water when burned. The first phase of the project is expected to take 1.5-2 years to commission, depending on the timely acquisition of necessary clearances. The second phase will follow shortly thereafter.
As of March 31, 2024, Ashoka Buildcon’s order book stood at Rs 11,697 crore, with Rs 6,214 crore allocated for roads and railway projects (53% of the total), and Rs 4,796 crore for power transmission and distribution. Key orders include Rs 662.55 crore (in a joint venture) from City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for the construction of the Link Road to Navi Mumbai International Airport (NMIA). The company also completed a 150 MW solar power plant project for NTPC in Rajasthan.
Ashoka Buildcon is a leading infrastructure development company in India, renowned for its expertise in executing large-scale projects across highways, bridges, power, and urban infrastructure sectors. With a strong focus on innovation and sustainability, the company has established a robust portfolio of projects, including several public-private partnerships (PPPs).
Ashoka Buildcon is recognized for its ability to deliver high-quality infrastructure solutions within stipulated timelines, contributing significantly to India’s economic growth and connectivity. Leveraging advanced technologies and a skilled workforce, the company remains committed to enhancing the nation’s infrastructure and expanding its footprint in domestic and international markets.
