Adani Enterprises' subsidiary Adani Road Transport forms SPV for road project

22 Apr 2022 , 09:16 AM

Adani Road Transport Limited (“ARTL”), WOS of Adani Enterprises Ltd has incorporated a WOS namely, Kagal Satara Road Private Limited (“KSRPL”), on April 20, 2022 with an Initial Authorized and Paid-Up Share Capital of Rs1 lakh each, to, interalia. carry out the Development Operation, Maintenance and Management of the project.

According to the regulatory filing, the project is for “Six Laning of Kagal-Satara section of NH-48 (old NH-4) [Package – II from km 658.000 to km 725.000] in the State of Maharashtra to be executed on BOT (Toll) mode under Bharatmala Pariyojana” and to do all necessary and incidental activities in this regard.

KSRPL will commence its business operations in due course, said company on Thursday.

Further, on Friday early morning trade, Adani Enterprises was trading at Rs2300 per piece higher by 0.59% on the BSE.