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Welspun Enterprises acquires 49% stake in Chikhali-Tarsod project

31 Jan 2018

Welspun Enterprises (WEL) has acquired 49% stake in the Chikhali-Tarsod NHAI HAM project in the state of Maharashtra, from Vishvaraj Group (VIL). WEL will be the sponsor to this project, thus expanding its HAM project portfolio to five projects worth over Rs 5,000 crore.

The consideration for this stake purchase is Rs 8.33 crore. The company has an option to acquire the remaining 51% stake as and when the regulator (NHAI) permits. The consideration for the purchase of the remaining stake is fixed at Rs 8.67 crore.

As per the Hybrid Annuity Model by NHAI, the project will have 40% financial support from NHAI. The debt component is estimated to be 48% of the project cost; and as sponsor, the balance will be funded by WEL (apart from the equity of VIL). The EPC contract of the project will be executed by WEL.

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.

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