Welspun Enterprises Ltd. has emerged as the lowest bidder for the development of a 2,000 million-litre per-day water treatment plant from the Brihanmumbai Municipal Corp. It won the bid for the design-build-operate contract for the development of a water treatment plant at a Bhandup complex, the company said in an exchange filing on Wednesday.
The total contract value, excluding Goods and Services Tax, is Rs. 4,128 crores and it will be designed and constructed within a period of 48 months. In another exchange filing, the company said that the National Company Law Tribunal has sanctioned the scheme of amalgamation of its wholly owned subsidiaries—Welspun Infraconstruct Pvt., Welspun-Kaveri Infraprojects JV Pvt., Corbello Trading Pvt. and RGY Roads Pvt.—with the company.
Shares of Welspun Enterprises closed 1.39% lower at Rs 546.35 apiece on the BSE, as compared with a 0.05% decline in the benchmark BSE Sensex.
Source: NDTV Profit