Mumbai: Adani Enterprises has set up a subsidiary that will focus on metro rail projects, the company informed its shareholders in a regulatory filing on Thursday. “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, and engineering, procurement and construction, thereof,” Adani Enterprises said.
The subsidiary is yet to start operations.
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Adani Enterprises has said that the subsidiary will have an authorised share capital of Rs 5 lakh and paid-up share capital of Rs 1 lakh.
Adani Group has shown an interest in metro rail projects and setting up of this subsidiary hints that it will be looking to enter and expand its footprint in the business. 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.