Welspun Corp wins bid for ABG's Shipyards.

Welspun Corp has emerged as the winning bidder of the shipyard of distressed borrower ABG Shipyard at an auction for a consideration of ₹659 crore. Welspun Corp and its subsidiary Nauyaan Shipyard would acquire the ABG asset at Dahej, in Gujarat. The asset is spread over 165 acres of leasehold land with 1,000 m of water frontage.

ET