Madhucon Projects is planning to hive off its toll road projects on build, operate and transfer (BOT) basis, power and coal mine projects to a subsidiary Madhucon Infra.
According to a release issued by Madhucon to the BSE today, the decision to hive off toll projects and other investments in infrastructure, power and coal mines to Madhucon Infra is being made as the net worth and capital required for infrastructure projects is substantial.
The company is planning to get shareholders approval for the above proposal via postal ballot, and the chairman will announce the result of the postal ballot on March 25, the release added.
No comments:
Post a Comment