Elecon may enter shipping, ports biz

Plans Rs 40-cr resort in Gujarat Engineering products and services major Elecon Group has diversified into hospitality business and is looking at shipping, ports and SEZs as its next destinations. The NRI-rich Kheda district and adjoining areas in Charotar region of central Gujarat is all set to get its first luxurious resort with five-star facilities by mid-2008. The resort has been developed by Elecon in a 15-acre area at a cost of Rs 40 crore to tap the huge potential in hospitality business due to large number of non-resident Gujaratis (NRGs) visiting their native places each year.