MUMBAI (Metro Rail Project): On Thursday Gautam Adani-led Adani Enterprises has set up a subsidiary to focus on Metro Rail Projects, the company informed the market.
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 said in a statement, the company has incorporated a wholly own subsidiary for the business of building, construction of transportation facilities like the metro and Monorail segment, Rapid Rail Transit System (RRTS), and engineering, procurement and construction, thereof.
The subsidiary, which is yet to start operations, has authorized 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.