The 200 acre park in Shamshabad, will feature an international trade centre, a world class convention centre plus an exhibition area.
The gems special economic zone will also provide a diamond trading bourse along with the regular facilities of an SEZ. The dimond bourse will be the second in the country besides the Mumbai-based Bharrat Diamond Bourse.The Andhra Pradesh government had sanctioned its approval and handed over the land last year, and work on the first phase had commenced in November last. The state government sold the land at Rs 5 lakh an acre.
The project will see an estimated turnover of Rs 5,000 crore when it is fully operational. Commenting on the approval and the status of SEZ project, Mehul Choksi, CEO of the group said, "The first lot of units, numbering over 20, will start manufacturing jewellery here very shortly." The 200 acre Rajiv Gems Park in Shamshabad in the vicinity of Hyderabad, when complete, will function as a full-scale commercial hub with all the essential services such as legal and courier/freight forwarding services.
The SEZ will feature an international trade centre, a world class convention centre plus an exhibition area. Adding immense value to the park will be a presence of a diamond trading bourse. It is possibly the first park across the country, which will have a manufacturing zone as well as a trading zone.
To facilitate a talent pool, the group is also ensuring a technical institute in the park to guarantee trained personnel for the many units that will come up here.HGSEZ is owned and partly funded by the newly listed group company, Gitanjali Gems Ltd. The SEZ, third of its kind in the country after Surat and Kolkota.
Apart from local Indian DTC sight holders and other diamond & jewellery manufacturing companies, the group is aggressively pushing for some of the big brands in the Gulf, to set up their manufacturing plants in this SEZ.
