Hyd: KTR lays foundation stone for Malabar Gems & Jewellery manufacturing unit

Hyderabad: Investors are continuing to head to Telangana from across the country. On Saturday, one more joined the long list, with IT and Industries Minister KT Rama Rao laying the foundation stone for a manufacturing unit of the Malabar Gems & Jewellery in Maheshwaram of Rangareddy district.

The facility, to be set up with an investment of Rs.750 crore, is set to become the largest jewellery manufacturing unit of Malabar Gold & Diamonds and would generate 2,750 jobs when it is operational.

The company has 17 retail showrooms in Telangana employing more than 1,000 people and has plans to expand further, officials said.

Principal Secretary (Industries & Commerce) Jayesh Ranjan, Director (Industries) D Krishna Bhaskar, Malabar Group of Companies chairman Ahammed M P and vice-chairman Abdul Salam KP were present.