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G. Naga Sridhar

Hyderabad, Aug. 17 The first unit in the Hyderabad Gems Special Economic Zone (SEZ) would be ready for operations by next month.

“We are happy with the progress. While the first unit will be ready by next month, another four would be operational by December, ,” Mr Suresh Chukkapalli, Managing Director, Hyderabad Gems SEZ, told Business Line.

The SEZ, being developed by Gitanjali Group in about 200 acres land near Shamshabad with over Rs 500 crore investments (Rs 100 crore by the Group itself), has already started cutting of diamonds. “Currently, we are cutting 1,500 pieces a day and large-scale exports will happen immediately after the first unit goes into operation,” Mr Suresh said. The raw diamonds are chiefly being imported from South Africa.

“About 40 companies have already expressed interest to come to the SEZ while many others are waiting for the International Airport coming up at Shamshabad to be operational,” he said.

Till now, the gem industry was mainly focused in Surat and Mumbai, he said adding: “The SEZ is expected to bring the focus to Hyderabad as well.” Efforts are also on to ensure the availability of a steady pool of talent for the SEZ. “We have trained over 1,800 people during the last six months. About 1,100 of them are now permanent employees. Nearly 5,000 people will be employed before March 2008.”

Importance was being given to provide employment to the differently-abled persons and those from the socially and economically weaker sections, he added.

The Gems Park was the third sector-specific SEZ for gems after Surat and Kolkata and would be involved in the designing, cutting and polishing of jewellery. “We will take up other activities such as costume jewellery, he said.

More Stories on : Gems & Jewellery | Infrastructure | Andhra Pradesh

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