Noted jewelry company Malabar Gold And Diamonds today came forward to invest about Rs 750 crore in Telangana.
The investment will lead to employment for 2,500 persons with skills in the gold and jewelry industry.
A team of the company led by its chief M P Ahmed called on industries and IT minister K T Rama Rao today to discuss the plan, and sought government help to start its business.
KTR welcomed the Malabar group into the state, and appreciated Ahmed and team for their plan to invest money and give employment to local talent.
The government would offer all necessary and possible help and support to Malabar to set up shop and do business in the state, he said, and asked the officials concerned to take immediate steps to ensure that Malabar got all the permissions necessary quickly.
Extending his thanks to the minister and the government, Ahmed said, "We are convinced by the support promised. The Telangana government offers a hassle-free mechanism and quick permissions to businesses in a friendly environment, and that is why we have come forward to invest."
He added that with this investment the company would have gold and diamond manufacturing and refining units in the state.
filed in:Telangana, Industry & Business, Investments, Gold, Employment, K T Rama Rao