Telangana State welcomes another major investment. 'Malabar Gold and Diamonds' will be establishing a gold and diamond jewelry manufacturing unit along with a refinery in Telangana with an estimated investment of Rs 750 Crores. This new investment will create employment for about 2500 people in the state.
Malabar Group Chairman MP Ahmed and a team of representatives met Minister KTR in Hyderabad today. The investment announcement was made during the meeting.
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 Malabar Group already has 260 jewellery stores across the globe.
Minister KTR welcomed the Malabar Gold and Diamonds group to Telangana. He stated that the Telangana Government will provide complete support to the firm.
The Minister also expressed happiness over 2500 jewellers getting employment in the region. 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.