Gitanjali to invest ₹636 cr. in Odisha gem, jewellery park

Unit on 100 acres will also have facility to process diamonds

November 25, 2017 08:23 pm | Updated 09:15 pm IST - MUMBAi

Gitanjali Infratech Ltd., a part of the Mumbai-based Gitanjali Group, will set up a gems, jewellery, lifestyle and luxury goods park at Ramdaspur near Cuttack in Odisha at an estimated investment of ₹636 crore.

The park, the first of its kind in Odisha, will come up on 100 acres of land. The State government, late on Friday evening, approved the company’s proposal.

Confirming the approval, Sanjeev Chopra, Principal Secretary, Department of Industries, Government of Odisha, said, “This park will include processing technologies for cutting and polishing diamonds, precious and semi-precious stones, manufacturing of gold, silver, platinum and imitation jewellery. This park will create largescale employment.”

The industrial processing facilities had been planned on 60.03 acres, which included 30.80 acres being designated as anchor’s plot for development of processing facilities for Gitanjali’s own units and for other Gitanjali brands, he said.

The remaining 29.23 acres would be leased out to other processing units of the diamond polishing and jewellery manufacturing sector. A total of 20 plots with sizes ranging from 0.69 acres to 3.20 acres had been provisioned for other industry players of the sector, including the consideration given for MSME units.

Job creation

The total employment potential of the project will be 15,000 people in a span of 7 years. In the first phase spanning two years, 4,000 people would be employed, while in the second phase in the next three years 5,500 more people would be employed. In the third phase, opportunity for 6,500 people would be created.

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