Domestic equipment hiring firm Gremach Infrastructure Equipments and Projects Ltd on Monday said it will invest Rs 425 crore (Rs 4.25 billion) in the Gandhinglaj special economic zone in Maharashtra. The company would invest Rs 200 crore (Rs 2 billion) in development of the SEZ and about Rs 225 crore (Rs 2.25 billion) in its own SAW pipe industry in the proposed SEZ, which is expected to generate large-scale employment.
Gremach Infrastructure has also received in-principle approval for setting up the Metal SEZ in Gandhinglaj, the company informed the Bombay Stock Exchange in a filing.
The company has already acquired 200 acres of land in Kolhapur district from MIDC, where the proposed Metal SEZ is being set up.
Gremach Infrastructure provides construction equipment on hire basis for large sized projects involving the road, port and hydroelectric sectors.
India's great rush for SEZs
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