Gremach to invest Rs 445cr in metal SEZ, unit

New Delhi, June 4 (UNI) Gremach Infrastructure Equipments and Projects Ltd today said it will invest Rs 445 crore in a metal special economic zone (SEZ) and in its SAW pipe unit within the SEZ in Maharashtra.

Out of the total amount, about Rs 200 crore will be utilised for development of the SEZ and Rs 225 crore in its own SAW pipe industry in the proposed SEZ.

The company has already acquired about 200 acres of land from MIDC in Kolhapur to set up the SEZ where it will also set up its own manufacturing facility of API grade Spiral Welded Pipe, a statement said.

The SEZ is expected to generate large scale employment, it said.

The company is one of the leading equipment hiring company in India and provides construction equipment on hire basis for large sized construction projects such as roads, flyovers, ports, docks, highways, jetties, irrigation, hydroelectric projects, oil and gas pipelines and nuclear power projects.

UNI