Power Mech Projects to set up separate arm for AMTZ project

Power Mech Projects on Wednesday informed the exchanges that in view of the tender requirements of the AMTZ project for the infrastructure development work awarded to the company, it needs to incorporate a subsidiary company (51:49) along with its joint venture partner BSCPL Infrastructure. The board has approved an investment not exceeding ₹10 lakh in the proposed company, it said. Shares of Power Mech Projects closed 1.5 per cent lower at ₹719.55 on the NSE.