Welspun Corp acquires possession of moveable properties of ABG Shipyard

Welspun Corp has received the possession of moveable properties (partially built obsolete ships, metal and scrap) from the Liquidator of ABG Shipyard (Liquidator).

Further, the Company's wholly owned subsidiary i.e. Nauyaan Shipyard (Nauyaan) has received the possession of immovable property at Dahej, Gujarat from the Liquidator.

As regards the leasehold lands at Dahej Gujarat, the Liquidator (along with Nauyaan) are in the process of taking necessary steps with Gujarat Industrial Development Corporation and Gujarat Maritime Board for completion of substitution/ transfer formalities.

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