Welspun Enterprises buys 49 pc stake in Chikhali-Tarsod proj

Infrastructure firm Welspun Enterprises today said it has acquired 49 per cent stake in Chikhali-Tarsod road project for Rs 8.33 crore.

"The company has acquired 49 per cent stake in the project for four laning of Chikhali-Tarsod (Package II A) section of NH 6...from Vishvaraj Group for a consideration of Rs 83.3 million," Welspun Enterprises Ltd (WEL) said in a BSE filing.

The company added that it has the option of acquiring the remaining 51 per cent stake as and when the regulator "NHAI permits at a fixed consideration of Rs 8.67 crore".

"We are extremely focused on profitably growing our infrastructure portfolio and this transaction is another step in that direction," Welspun Group Chairman B K Goenka said.