Jewelry Company Malabar today came forward to invest about Rs 750 Cr in Telangana state.
Malabar Gold and Jewelry Company to open its business in the state to provide employment to 2500 persons with knowledge in good and jewelry works with skills.
A team of companies led by its chief, MP Ahmed called on industries and IT Minister K Taraka Rama Rao. He discussed the business plan and sought government help to start its business.
The company head said that with their investment the company will strengthen further in the state. It will have gold, diamond manufacturing, and refinery units in the state, Ahmed said. We are convinced with the support and plans to invest, he said.
He said that the Malabar group has 260 gold and jewelry shops across the world. With our company starting a business in the state and city we would offer jobs to about 25000 skilled persons in gold and jewelry industry.
Happy to share that ‘Malabar Gold and Diamonds’ will be establishing a gold and diamond jewellery manufacturing unit along with a refinery in Telangana with an estimated investment of ₹ 750 Crores
This new investment will create employment to about 2500 people in the state pic.twitter.com/FQM8U8Kxof
— KTR (@KTRTRS) September 15, 2021
The Minister welcomed the Malabar team to start their business. KTR appreciated Ahmed and the team for their plan to invest money and give employment to local talent.
The government would offer all help and support to Malabar to set up shop and do business, KTR said He asked the officials concerned to take immediate steps to ensure Malabar start its business with permission.
The company appreciated the government for its hassle-free mechanism and permissions being offered to new companies to start their business. Ahmed said that as the government provides complete support in a business-friendly environment we came forward to invest.
The company extended thanks to the Minister and the Government for their support.