New gems and jewellery parks in Kerala

25 Sep '06

2 min read

Kerala Industrial Infrastructure Development Corporation (KINFRA) is leasing out land to developers for developing an industrial park and Special Economic Zone (SEZ).

The proposed site is a 33-acre plot at KINFRA Hitech Park at Kalamassery. Out of this, 25 acre has been allotted to the development of SEZ for gems and jewellery while eight acre earmarked for units catering to domestic market.

The proposed park and SEZ will help to make the products acceptable in international markets, to provide steady employment opportunities and to make available the latest technology in this area.

In the SEZ, KINFRA will contribute land and basic infrastructure facilities like power, water supply and communication facilities.

The private sector parties will contribute equity funds to the SPV that will be utilized to fund the development of specific infrastructure facilities.

The project will be conceived, designed, implemented, operated and maintained by a private developer, through a Special Purpose Vehicle incorporated under the Indian Companies Act, 1956.

The eligibility criteria for the developer would include a minimum of 10 years experience in gems and jewellery business and a net worth not less than Rs50 crore in the preceding financial year.

Aerens Goldsouk International Ltd, Haryana, and Gitanjali Gems Limited are prominent among those who are interested in the development of the proposed Gem and Jewellery Park and SEZ.

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