Real estate developer Aerens Gold Souk Group has announced that is progressing on a fast pace with the development of the Gold and Diamond Park at Kalamassery in Kochi, Kerala with an investment of Rs.450 crore.
Spread over 33 acres, the Gold and Diamond Park is an integral part of the 240 acres hi-tech park promoted by KINFRA (Kerala Industrial Infrastructure Development Corporation).
Ashish Gupta, vice chairman and joint managing director, Aerens Gold Souk Group, said, “Billed as Kerala’s biggest initiative for the gems and jewellery industry, the park is conceived to be a landmark for jewellery manufacturers, retailers, artisans, exporters and wholesalers to interact, network, source and promote business prospects. It will help facilitate standardisation in the industry, create products that are acceptable in international markets, provide steady employment opportunities and make available latest technologies with a view to preserving the State’s traditional jewellery industry.”
“The manufacturing facility at the Gold and Diamond Park would be ready by September 2011 and it may take three more years to complete the project. In addition, we are providing residencies for manufacturers which will be called Gold Souk Residencies. The township will consist of a five-star hotel, mall and office complex,” added Gupta.
The company is looking for private equity (PE) players to fund a portion of the project and is in talks for joint ventures with manufacturers from the Middle East, Italy, Turkey, Malaysia, Singapore and Thailand. The rest would be financed through internal accruals and joint ventures.
– IndiaRetailing Bureau