Welspun Enterprises (WEL) has bought a 50.10% stake in engineering, procurement and construction firm Michigan Engineers. The transaction, valued at Rs 137.07 crore will enable WEL to expand its urban water infrastructure business, as well as enter the high-margin, high-growth trenchless technologies field. WEL has an order book of over Rs 6000 crore for the water and wastewater segment, and the sector is likely to benefit from Indian government schemes.
