Published
Oct 17, 2022
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Malabar Gold & Diamonds to set up manufacturing plant in Telangana with Rs 750 crore investment

Published
Oct 17, 2022

Malabar Gold & Diamonds will open a manufacturing unit in Telangana with a Rs 750 crore investment. The jewellery retailer laid the foundation stone for the project in a ceremony on October 15. 

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“The soon-to-be operational manufacturing unit in Telangana will further strengthen our manufacturing capabilities apart from our retail expansion drive,” said Malabar Group chairman Ahammed MP, ET Retail reported. “We are grateful to the Government of Telangana for extending all possible support in quick succession to help us set up the manufacturing unit in Maheshwaram.”
 
The unit is expected to generate 2,750 jobs in the state and will include a gold refinery. The project is located on 2.3 lakh square feet of land in Maheshwaram’s General Park and, when operational, the plant will have the capacity to manufacture 10 tonnes of gold jewellery and 1.5 lakh carats of diamond jewellery per year as well as refine 180 tonnes of gold annually. 

The facility will include a design studio, skills development centre, and research and development segment. An employee accommodation facility and automated warehousing facility will also feature. 
 
The Telangana manufacturing unit will be the business’ tenth in India, in addition to its current units located across Mumbai, Hyderabad, Kolkata, Coimbatore, Bengaluru, Thrissur, and Kozhikode. Malabar Gold & Diamonds also has five manufacturing units in the Middle East in Bahrain, Sharjah, Qatar, and Dubai. 

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