Welspun Enterprises has completed the acquisition of 49% stake in 2 Project from MBL Group at the agreed consideration of Rs 23 crore. The company shall replace the Bank Guarantees provided by MBL group within 60 days of the Appointed Date.
The Projects are for 4-Laning of Chutmalpur-Ganeshpur section of NH-72A & Roorkee-Chutmalpur-Gagalheri section of NH-73 and for 4-Laning at Gagalheri-Saharanpur-Yamunanagar (UP/ Haryana border) section of NH-73.
Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.
