Gangnam Boulevard Retail acquires 22 acres of land in Better Noida for Rs 180 crore.

Gangnam Boulevard Retail, a house equipment corporate, has bought a 22-acre website in Better Noida to arrange a producing facility with South Korea’s Dh World Co Ltd, a senior government mentioned.

The land was once bought for Rs 180 crores and some other Rs 400 crores might be invested in putting in the plant.

The corporate will center of attention at the manufacturing of fridges.

“The plant might be able in a 12 months and a part, and our objective is to provide 1,000,000 devices within the first 12 months and regularly build up it. In 5 years, we wish to produce 5 million devices consistent with 12 months at this website,” mentioned Sanjeev Rathy, Managing Director of Gangnam Boulevard Retail LLP, India.

The corporate will proceed to extend its manufacturing capability throughout the acquisition of land.

This will likely create jobs for two,000 native citizens.

The land was once bought by way of the Better Noida government within the 750-acre built-in business park.

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