Madhucon to transfer BOT projects to arm

February 22, 2008

Hyderabad: Madhucon Projects Ltd is planning to transfer its major infrastructure projects to Madhucon Infra Ltd, which shall be a holding company for its build operate and transfer (BOT) toll roads, power projects and coal mines.

The Hyderabad-based company is proposing to transfer its BOT toll road projects and other investments in infrastructure, power and coal mine businesses to Madhucon Infra Ltd and would be seeking the approval of shareholders for the transfer by way of postal ballot, according to a release.

The company to segregate the engineering, procurement had necessitated the transfer process due to a decision and consulting (EPC) business and the investments in BOT projects as the net worth and capital required for these would be substantial. The result of the postal ballot would be announced on March 25, the release added.

Source: sify.com