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KTR lays foundation for Malabar Gems & Jewellery manufacturing unit
Industries Minister KT Rama Rao on Saturday laid the foundation stone for a manufacturing unit of the Malabar Gems & Jewellery at Maheshwaram in Rangareddy district.
Hyderabad: Industries Minister KT Rama Rao on Saturday laid the foundation stone for a manufacturing unit of the Malabar Gems & Jewellery at Maheshwaram in Rangareddy district. The plant which will be constructed at a cost of Rs 750 crore, will be Malabar Gold & Diamond's largest jewellery production unit, creating 2,750 jobs once it is operational.
The company has 17 retail showrooms across Telangana and employs over 1,000 people, with ambitions to grow further. They also said that the manufacturing unit will have the capacity to manufacture 10 tonne gold jewellery and 1.5 lakh carats of diamond jewellery annually. It will also house a state-of-the-art gold refinery facility with an annual gold refining capacity of 180 tonne. The facility is said to roll out a diverse range of jewellery including gold, diamonds, precious gemstones, platinum and uncut diamonds.
Malabar Group chairman Ahammed MP thanked the State government for extending all possible support to help the company set up the manufacturing unit in Maheshwaram.
