Welspun Enterprises Exits Kim Mandvi Corridor: Strategic Divestment Continues

Welspun Enterprises Limited (WEL) has approved the exit of its full holding in Welspun Project (Kim Mandvi Corridor) Private Limited. This is consistent with WEL's asset-light strategy and continues the recent practice of strategic divestitures by the company. The Kim Mandvi Corridor project, a 45 km road corridor in Gujarat at a project cost of Rs. 21.10 Crore, was being run on a 20-year concession period which started in August 2010. This action is a part of WEL's overall plan to maximize its portfolio and concentrate on core capabilities. The firm has been actively re-shaping its holdings, such as the recent disposal of its highway portfolio to Actis for more than Rs. 9,000 Crore. WEL continues to show its capability of constructing, managing, and astutely exiting infrastructure assets, reinforcing its dedication towards creating value for shareholders.

 

Source: BSE India