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Adani Enterprises sets up new arm for metro rail business

The subsidiary, which is yet to start operations, has authorised share capital of Rs 5 lakh and paid-up share capital of Rs 1 lakh. With Indian cities taking up metro projects, the sector is attracting infrastructure majors, both locally and abroad.

, ET Bureau|
Last Updated: Oct 17, 2019, 07.45 PM IST
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MUMBAI: Gautam Adani-led Adani Enterprises has set up a subsidiary to focus on metro rail projects, the company informed bourses on Thursday.

The Adani group has earlier shown interest in metro rail projects, and setting up of this subsidiary solidifies its intent to enter and expand in this business.

"The company has incorporated a wholly own subsidiary for the business of building, construction of transportation facilities like the metro and mono rail segment, rapid rail transit system, and engineering, procurement and construction, thereof," the company said in a statement.

The subsidiary, which is yet to start operations, has authorised share capital of Rs 5 lakh and paid-up share capital of Rs 1 lakh.

With many Indian cities taking up metro projects and other rapid transport projects for public transport, the sector is attracting infrastructure majors, both locally and abroad.
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