NWW DELHI, May 24, 2011 /PRNewswire/ -- Evader, Inc. (Pink Sheets:EVDR.pk - News); www.evadercorp.com, subsidiary ASCC Construction, one of India's largest builders, has submitted a tender for an Road Construction project in the state of Tamil Nadu estimated to be worth $ 110 million USD as a part of National Highways Development Programme - Phase III. (NHDP - III.).
This is one of the most prestigious projects for National Highways. It comprises Independent Engineer services for two-laning with paved shoulder of Dindigul-Theni section km 2,750 to km 73,400 of NH-45 (Extn), and Theni-Kumili Section from km 215,500 to km 273,600 of NH-220 in the State of Tamil Nadu under NHDP - III on Design, Build, Finance, Operate and Transfer (DBFOT) Annuity basis.
"We are proud to continue our relationship with NHAI (National Highway Authority of India) Projects," says Evader CEO Mr. Walia. "Managing the construction of this important project for the benefit of the people of India would bring a great honour to ASCC and greatly increase our competitiveness in India's construction market."
About NHDP - III.:
The National Highways Development Programme (Phase III.) involves the four-laning of over 10,000 km of high-density highways that are not covered in the earlier two phases of NHDP, namely the Golden Quadrilateral and the East-West North-South Corridor. NHDP-III covers almost the entire country. Nearly a fifth of the project will take place in Tamil Nadu and Maharashtra. Rajasthan, Bihar and Madhya Pradesh are other states that would see substantial development of highways under NHDP-III., covering 5,498 km. The total cost of NHDP-III is estimated at 15 billion USD. It is envisaged to come up entirely through the BOT-Toll method with the targeted completion being 2012.
EVDR will keep shareholders updated on new developments in a timely manner.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Evader, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Evader, Inc. cautions you that any forward-looking information provided by or on behalf of Evader, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Evader, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Evader, Inc.'s control. In addition to those discussed in Evader, Inc.'s press releases, public filings, and statements by Evader, Inc.'s management, including, but not limited to, Evader, Inc.'s estimate of the sufficiency of its existing capital resources, Evader, Inc.'s ability to raise additional capital to fund future operations, Evader, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Evader, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Evader, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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