SRM Contractors to Convert Abu Dhabi Branch to Wholly Owned Subsidiary

SRM Contractors Limited announced its Board of Directors has approved the conversion of its Abu Dhabi branch into a wholly-owned subsidiary, 'SRM Contractors LLC'. This strategic move aims to restructure its international operations. The conversion is subject to regulatory approvals from the Department of Economic Development, Abu Dhabi, UAE. The new subsidiary will focus on construction and engineering services, including retaining walls, dewatering, bridges, tunnels, roads, and oil and gas field services. The initial capital infusion is planned at AED 100,000.