Deals21 Aug 2024, 10:44 pm
Welspun Enterprises' Subsidiary Secures Rs. 159.75 Crore Sewer Rehabilitation Project from BMC
AI Summary
Welspun Enterprises Ltd announced that its subsidiary, Welspun Michigan Engineers Limited (WMEL), has been awarded a Letter of Acceptance (LOA) by the Brihanmumbai Municipal Corporation (BMC) for the Rehabilitation of man-entry sewers by trenchless technology in the suburbs of Mumbai City. The contract value, excluding GST, is Rs. 159.75 Crore. The project is to be executed within 24 months (excluding monsoon) from the date of notice of commencement.
Key Highlights
- Welspun Michigan Engineers Limited, a material subsidiary of Welspun Enterprises, has been awarded a LOA by BMC for a sewer rehabilitation project worth Rs. 159.75 Crore.
- The project involves the rehabilitation of man-entry sewers by trenchless technology in the suburbs of Mumbai City, to be executed within 24 months.
- This is WMEL's biggest independent project under the rehabilitation segment, contributing to a more sustainable environment and infrastructure longevity.
- The Trading Window for dealing in the Securities of the Company by the Designated Persons and the Connected Persons is closed from August 20, 2024, and shall re-open from August 24, 2024.