Electrotherm (India), the Ahmedabad based battery run two-wheeler manufacturer, has exited from the upcoming Gallops SEZ being developed by NG Realty, a group company of NG Corporation, at Rajoda village in Ahmedabad district of Gujarat.
Electrotherm’s reason for pulling out of the project was due to the delay in executing the work at the SEZ thereby affecting its own plans. The company had planned to set up a coin minting unit in the notified SEZ for an investment of Rs 100 crore.
The SEZ spread across an area of 575 acre entails an investment of about Rs 1,000 crore.
Source : ProjectsToday
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