The Adani Group has set up a wholly-owned subsidiary for building and construction of metro railways. The company has authorised share capital of Rs 5 lakh and paid-up share capital of Rs 1 lakh. The subsidiary, incorporated on October 17, is yet to commence
“The company has incorporated a wholly owned subsidiary for the business of building, construction of transportation facilities like metro and mono rail segment, rapid rail transit system and engineering, procurement and construction,” Adani Group said in an exchange filing.
The Adani Group had reportedly shown interest in participating in metro rail projects across several cities. The group had reportedly committed around Rs 5,000 crore investment into metro railways during an investors summit in Uttarakhand last year. An email sent to Adani Enterprises on Friday went unanswered until press time.
Last month, Adani Enterprises also registered multiple companies to operate and maintain multiple airports across cities including Ahmedabad, Jaipur, Lucknow, Mangaluru and Guwahati. In February, the Adani Group emerged as the highest bidder for six airports run by the Airports Authority of India in cities including Lucknow, Jaipur, Guwahati and Thiruvananthapuram. Adani Enterprises also has three road projects and one water project under the hybrid annuity model.