Odisha govt approves establishment of Gems and Jewellery park

03 November, Bhubaneswar

Odisha government has accorded in principle provisional approval for establishment of a Rs 700 crore Gems & Jewellery Industrial Park at Ramdaspur in Cuttack district with an objective to create employment inclusive industries in the state.

The state-level committee meeting held under the chairmanship of Chief Secretary Aditya Prasad Padhi accorded approval to the proposal of M/S Gitanjali Gems Ltd as anchor investor for the establishment of the park spread over 100 acres of land with an investment of Rs 685 crore Wednesday.

Official sources here said the investment would be made over a period of seven years in three phases and out of the Rs 685 crore, about Rs 209 crore would be invested in the first phase.

The park will provide added thrust to the export-oriented Gems and Jewellery Sector in Eastern India in general and Odisha in particular. The project envisages employment opportunities for over 16,000 people in three phases, the beneficiaries primarily being women. In the first phase, 4000 people would be engaged.

The proposed components in the Park included precious & semi precious diamond cutting, diamond polishing, designing of gold, silver, platinum and diamond jewelleries, manufacturing of the jewelleries, life style products, retail centers and export houses.

The company proposed to bring in its associates and promoters like Asmi, Nakshatra, GILI, Sangini, Nirvana, Kairana, Valente, Viola to the park.

The expenditure for development of infrastructure has been estimated at Rs 129.5 crore in three different phases including the common facility centers. The committee advised the project proponent to submit the Detail Project Report (DPR) within 6 months for consideration of final approval.