Gammon India has received an approval for transfer of its Civil EPC undertaking -- Civil Engineering, Procurement and Construction business carried on by the company in roads, hydro-power, nuclear power, tunnels, bridges, buildings, cooling towers, chimneys and other sectors as a going concern, which shall include all the properties, rights and powers and all debts, liabilities, duties and obligations comprised in/and pertaining to Gammon Retail Infrastructure, the company’s wholly owned subsidiary. The board of directors at their meeting held on November 17, 2015 has approved for the same.
The carve out of the Civil EPC business with the resultant debt, plant and machinery, properties, employees, projects and all other liabilities is to enable potential equity investors to invest in the Civil EPC business. The board is also evaluating proposals from potential investors for its Civil EPC Business.
Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.
Company Name | CMP |
---|---|
Larsen & Toubro | 3652.00 |
Rail Vikas Nigam | 429.95 |
NCC | 284.40 |
KEC International | 1210.00 |
Kalpataru Projects | 1249.65 |
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