Patel Engg acquires Michigan Engineers
City-based Patel Engineering Ltd today said it has acquired a controlling stake in urban infrastructure company Michigan Engineers Pvt Ltd for an undisclosed sum.Updated: Sep 12, 2006 19:35 IST
City-based Patel Engineering Ltd on Tuesday said it has acquired a controlling stake in urban infrastructure company Michigan Engineers Pvt Ltd for an undisclosed sum.
"The government is planning to spend Rs 63,000 crore over the next five years on urban infrastructure. The acquisition of MEPL provides the perfect platform to leverage joint skills and bid for urban infrastructure and sewerage projects," Patel Engineering Managing Director Rupen Patel said.
Rupen Patel added that with the acquisition, the company would be able to provide end-to-end solutions in sewer rehabilitation and urban infrastructure space, Patel Engineering said in a filing on the stock exchanges.
First Published: Sep 12, 2006 19:35 IST