Ashoka Buildcon ends Ivory Coast EPC project without financial impact

Ashoka Buildcon Limited reported on September 19, 2025, the mutual short closure of an EPC project in Ivory Coast, initially valued at €18.50 million. The project, involving the construction of 100 drinking water wells and installation of supply units in 35 villages, was subcontracted by M/s Serneke International Limited, Sweden.

The decision to foreclose the project was reached after considering the contract terms, conditions, and project progress. A final closure agreement was executed on September 19, 2025, settling all obligations between the parties.

The company stated that the short closure had no negative financial impact. Delays in approvals for land availability, work, drawings, and designs were cited as reasons for the termination.