Malabar Gold and Diamonds has outlined plans to establish a manufacturing unit along with a refinery in Telangana with an investment of ₹750 crore.
The proposed investment will create employment for about 2,500 people in the State. The Malabar Group has over 260 jewellery stores across the globe.
Malabar Group Chairman MP Ahmed and a team of representatives met State Industries Minister KT Rama Rao in Hyderabad on Wednesday wherein he shared the company’s investment plans, according to a statement.
The representatives of the Malabar Group also mentioned that the availability of quality human resources in the State along with an investment-friendly atmosphere and policies of the government encouraged them to come forward and invest in Telangana.
The minister welcomed the Malabar Gold and Diamonds group to Telangana and assured the Telangana Government’s complete support.
Rao expressed happiness that over 2,500 jewellers would get employment in the region with the proposed project. He added that there were skilled jewellers in various districts of Telangana and requested the company heads to consider creating employment for them in their firm.
Principal Secretary Jayesh Ranjan and senior officials from the Industries Department participated in the meeting.