ARSS Infrastructure has diluted 50% stake in Rs 400 crore Bhubaneshwar project being developed by the company. Welspun Infratech, part of BK Goenka-led Welspun Group, has bought 50% in an Rs 400-crore transport infrastructure project. ARSS' unit is developing a bus terminal in a 15 acre complex in the city. It plans to use surplus land at the terminal for building offices and shops later on. Welspun Group has been looking at the infrastructure space closely and will scout for more such opportunities.
Recently, the company had bagged total order worth Rs 233.53 crore. The company had bagged first work order for an amount of Rs 220 crore from Punjab Infrastructure Development Board while it had bagged second work order from the Office of the Executive Engineer, Angul (R&B) Division, Angul, Odisha amounting Rs 13.53 crore.
ARSS Infrastructure Projects is engaged in construction activities in India. It undertakes construction of railway infrastructure, roads, highways, bridges and irrigation projects. The company has developed expertise in railway construction projects, which includes earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks etc.