The Hindu : Business : Kinfra, Aerens Goldsouk to sign MoU for jewellery park

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Thursday, Aug 02, 2007
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Kinfra, Aerens Goldsouk to sign MoU for jewellery park

Staff Reporter

The proposed gem and jewellery park will occupy 33 acres

KOCHI: Kerala Industrial Infrastructure Development Corporation (Kinfra) and Delhi-based Aerens Goldsouk International Ltd. is all set to sign a Memorandum of Understanding (MoU) for developing a gem and jewellery park as part of the hi-tech park being developed by Kinfra in association with various private companies.

The proposal is before the Board of Directors of Kinfra, said an official of the Corporation. Its approval will pave the way for signing the MoU for the project, which has received a major boost with Indian gem and jewellery exports for the first quarter of the current financial year growing 13 per cent despite a strengthening rupee.

The growth in gem and jewellery exports complements late last year’s projections that global sales will grow to touch $230 billion in 2015 and that India and China will be big-time players in the growth.

The gem and jewellery park is part of Kinfra’s plans to open a hi-tech park spread over 240 acres in Kalamassery of which the proposed gem and jewellery park will occupy 33 acres.

Private partner

The World Gold Council was involved in helping Kinfra identify the private partner for the gem and jewellery park. The private company will be involved in visualising the set up, executing the project and maintaining it in collaboration with Kinfra through a special purpose vehicle. Kinfra will provide infrastructure such as power, water supply and communication facilities.

The hi-tech park will also have an electronics park, that will come up on 30 acres, a bio-technology park on 50 acres, IT and ITES industry park on 25 acres and an international exhibition and trade centre on 40 acres. Sixty-two acres are being set aside for setting up facilities for electricity distribution, water reservoir and so on.

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