Gammon India to Commence CDR Discussions

The board of construction and engineering company Gammon India  has agreed to begin talks with lenders to restructure the company’s debt through the corporate debt restructuring process, it said in a statement late on Wednesday.

 

 

Sluggish industrial capital expenditure has squeezed orders for Indian infrastructure companies and big projects have been stalled by a slow approval process and inadequate capital.

 

At 9:35 a.m., shares in Gammon India were up 2.4 percent at