Ircon International has incorporated a Wholly Owned Subsidiary Company namely ‘Ircon Akloli-Shirsad Expressway’ on December 23, 2021 as a Special Purpose Vehicle for the purpose of construction of Eight lane access controlled expressway from Km 3.0000 to Km 20.200 (Shirsad to Akloli Section-SPUR of Vadodra Mumbai Expressway) in the State of Maharashtra on Hybrid Annuity Mode under Bharatmala Pariyojana (Phase II - Package XIV).
As per the Letter of Award issued by National Highways Authority of India (NHAI), the aforesaid work will be executed by ‘Ircon Akloli-Shirsad Expressway’. The business of wholly owned subsidiary is in line with the main line of business of the Company. The Company has subscribed to 50,000 equity shares of Rs 10 each aggregating to Rs 5 lakh. Ircon Akloli-Shirsad Expressway is incorporated in India and is yet to commence its business operations.
Ircon International is an integrated Indian engineering and construction company, specializing in major infrastructure projects.
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