Telangana: Malabar Gold and Diamonds plans to spend Rs 750 crore in Telangana to build a gold and diamond jewellery production facility as well as a refinery. According to a press statement issued on Wednesday, the investment announcement was made during a meeting between Malabar Group Chairman MP Ahmed and a team of officials with Telangana Minister for IT and Industries KT Rama Rao.
“Telangana welcomes yet another significant investment. Malabar Gold and Diamonds plan to spend Rs 750 crore in Telangana to build a gold and diamond jewellery production facility as well as a refinery. Approximately 2,500 people will be employed as a result of this new investment in the state “It was said.
The Malabar Group’s executives also stated that the availability of high-quality human resources in the state, as well as an investment-friendly environment and government regulations, encouraged them to come forward and invest in the state, according to the report.
The Malabar Group now has 260 jewellery stores across the world.
The minister welcomed the Kerala-based enterprise to Telangana and stated that the state government will offer all support to the company.
The Minister also expressed his delight at the fact that 2,500 jewellers will be employed in the region.
He further stated that competent jewellers may be found in various Telangana areas and suggested that corporate executives consider hiring them.