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The country’s largest dry cell battery maker, Eveready Industries, said in press release on Thursday that it has sold a land parcel in Chennai for ₹100 crore.
The sale to Olympia Group and will help Kolkata-based Eveready retire a part of its debt burden.
Eveready has “entered into an agreement for sale of its land situated at Tiruvottiyur Road in Chennai to Alwarpet Properties Pvt Ltd (Olympia Group)”, it said.
The plot housed a battery manufacturing facility which was closed down in November 2017 as the “factory became economically unviable”. In 2005-06, Eveready had sold a land parcel at Guindy in Chennai to the Olympia Group.
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