Hazoor Multi Projects Ltd. Submits Binding Offer for Potential Acquisition of Gammon Engineers and Contractors' EPC Business
Hazoor Multi Projects Ltd. (HMPL) has formally submitted a binding offer to the lenders of Gammon Engineers and Contractors Private Limited (GECPL) for the potential acquisition of part of the Engineering, Procurement, and Construction (EPC) business of GECPL. This move aligns with HMPL's strategy to strengthen its position in the EPC space. GECPL, a subsidiary of Gammon India Limited, has a proven track record in civil engineering and infrastructure development, executing projects across various sectors. The lenders of GECPL are currently exploring restructuring options under the Reserve Bank of India’s Prudential Framework for Resolution of Stressed Assets. HMPL views this opportunity as a strategic fit to expand its EPC portfolio and enhance its presence in the infrastructure sector.
Key Highlights
- Hazoor Multi Projects Ltd. submits binding offer for potential acquisition of Gammon Engineers and Contractors Private Limited's EPC business.
- GECPL is a subsidiary of Gammon India Limited, established in 1922, with a proven track record in civil engineering and infrastructure development.
- The acquisition aligns with HMPL's strategy to strengthen its position in the EPC space.
- GECPL is currently engaged in EPC works for projects spanning roads, railways, metros, power, irrigation, ports, and marine sectors.
- The proposed acquisition is seen as a strategic fit for HMPL to expand its EPC portfolio and enhance its presence in the infrastructure sector.