KTR lays foundation stone for Malabar Gems & Jewellery manufacturing unit in Maheshwaram
The company has 17 retail showrooms in Telangana employing more than 1,000 people and has plans to expand further, officials said.
Hyderabad: Investors are continuing to head to Telangana from across the country. On Saturday, one more joined the long list, with IT and Industries Minister KT Rama Rao laying the foundation stone for a manufacturing and refinery facility of the Malabar Gems & Jewellery in Maheshwaram of Rangareddy district.
The facility, to be set up with an investment of Rs.750 crore and coming up in 3.7 acres, is set to become the largest jewellery manufacturing unit of Malabar Gold & Diamonds and would generate 2,750 jobs when it is operational. It will have capacity to produce 10 tonne gold jewellery and 1.5 lakh carats of diamond jewellery annually. The refinery will have an annual gold refining capacity of 180 tonne. The unit will support retail expansion and strengthen the Group’s mission – Make In India, Market to the World.
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Speaking at the ceremony, the Minister said Hyderabad had all the requisites to be a fine jewellery manufacturing hub. Even as the company announced to provide employment to 2,750 people, it would not find any difficulty in finding skilled manpower in the State. There were several clusters in the State that make intricate jewellery. Fine craftsmen were available in the State and there was no need to groom them either, he said.
“Narayanpet, which is about 100 km from Hyderabad, has a lot of goldsmiths. They have a cherished history of fine craftsmanship with respect to jewellery making, particularly gold. It sees customers and suppliers from Hyderabad, Bidar, Raichur and other parts of Karnataka. There is also a demand locally to sanction up a gold souk in Narayanpet. That is mainly due to the craftsmanship practised there. The only gold souk that I know of is in Dubai. That way, Naryanpet is on the same page as Dubai,” he said.
India has a culture of gifting jewellery and this will augur well for the Malabar group operations. For Telangana, gems and jewellery is identified as a priority sector that can create large scale employment, he said.
Investments continue to pour into #Telangana!
Minister @KTRTRS laid the foundation stone for Malabar Gems & Jewellery @Malabartweets manufacturing facility located in Maheshwaram, Rangareddy District. It would be set up with an investment of ₹750 crore. @InvTelangana pic.twitter.com/T3jnRf3mvg
— KTR, Former Minister (@MinisterKTR) October 15, 2022
Rama Rao also complimented Malabar group for choosing Telangana for its manufacturing unit. The State excels in providing a conducive business environment to various sectors including technology, biology, aerospace, gems and jewellery, food processing and others, he said, also asking the company officials to ensure the project was ready for inauguration in one year.
The Malabar manufacturing facility will make jewellery in gold, diamonds, precious gemstones, platinum and uncut diamonds. It will have CNC machining, technology-enabled chain making machines and laser cut machines in collaboration with industry experts from Italy, USA and Germany. The General Park manufacturing facility which will be built on 2.3 lakh sq ft area will also have a skill development centre, design studio and R&D centre along with accommodation facility for the employees. It will also have an automated warehousing facility. The facility will have 33 percent green space provision and will adhere to environmentally sustainable norms.
“The soon-to-be operational manufacturing unit in Telangana will strengthen our manufacturing capabilities apart from our retail expansion drive. 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,” Malabar Group Chairman Ahammed MP said.
Malabar has 17 retail showrooms in Telangana employing more than 1,000 people and has plans to launch 97 showrooms – 60 across India and 37 overseas, in addition to the existing 280 showrooms spanning 10 countries. It has five manufacturing units in Qatar, Dubai, Sharjah and Bahrain and nine in India.
Education Minister P Sabitha Indra Reddy, Industries Principal Secretary Jayesh Ranjan, Malabar Group of Companies Vice Chairman Abdul Salam KP, India Operations Managing Director O Asher, Group Executive Director (Manufacturing and B2B) Nishad AK and others were present.
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