Hazoor Multi Projects Ltd. Submits Revised Binding Offer for Part of Gammon Engineers’ EPC Business

Hazoor Multi Projects Ltd. (HMPL) has submitted a revised binding offer to the lenders of Gammon Engineers and Contractors Private Limited (GECPL) for the potential acquisition of part of GECPL’s Engineering, Procurement, and Construction (EPC) business. This offer is subject to necessary approvals, completion of procedural formalities, and acceptance by the lenders. GECPL has a strong background in civil engineering and infrastructure development, with projects in various sectors such as transportation, power, and urban infrastructure. The lenders of GECPL are currently exploring restructuring options under the Reserve Bank of India’s Prudential Framework for Resolution of Stressed Assets. This acquisition aligns with HMPL’s strategy to strengthen its position in the EPC space, where it has a proven track record of execution. HMPL views this opportunity as a strategic fit to expand its EPC portfolio and enhance its presence in the infrastructure sector.