Elecon Group to foray into hospitality business
January 31, 2009 by admin
| Engineering products and services major Elecon Group of Companies is planning to diversify its business by foraying into hospitality business. It is also planning to develop a golf course at Gujarat.
The group is all set to launch a modern resort near Anand in March. They have also entered into a Memorandum of Understanding (MoU) with Gujarat government, proposing to invest Rs 400 crore on developing a sprawling golf course along the Mahi river bank nearby. The luxury resort to be developed in 17 acres of area by Elecon would be the sates first five-star facility. This resort will have facilities such as hotel, spa, cottages, clubs and gymnasia. The company having an order book valued at Rs 1,800 crore is aiming to attain Rs 1,100 crore of turnover this fiscal year. It attained a turnover of Rs 800 crore in the fiscal year 2008-09. |
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