Gremach Infrastructure receives approval for Metal SEZs in Maharashtra

Gremach Infrastructure Equipments & Projects Ltd has announced that the Company has received in-principle approval for setting up Metal SEZs in Gandhinglaj, Distt. Kolhapur, Maharashtra. As informed earlier the Company has already acquired about 200 acres of Land in Kolhapur Dist. from MIDC, where the proposed Metal SEZ is being set up. The Company would also be setting up its own anchor industry namely manufacturing facility of API grade Spiral welded Pipe (Saw Pipe) in the said SEZ.

The proposed SEZ is expected to generate large scale employment. The Company proposes to invest about Rs 200 Crores in development of SEZ and about Rs 225 crores in its own SAW pipe industry in the proposed SEZ.

The Company is one of the leading equipment hiring Company in India. The Company 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, nuclear power projects etc.

The stock closed the day at Rs.139.35, up by Rs.5.55 or 4.15%. The stock hit an intraday high of Rs.140 and low of Rs.135. The total traded quantity was 224611 compared to 2 week average of 270220.

Source : Equity Bulls

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