Malabar Group to invest Rs.750 cr in TS
Hyderabad: With an estimated investment of Rs750 crore, Malabar Gold and Diamonds will be establishing a gold and diamond jewellery manufacturing unit along with a refinery in Telangana. This new investment will create employment for about 2,500 people in the State. Malabar Group already has 260 jewellery stores across the globe.
Malabar Group Chairman MP Ahmed and a team of representatives met IT and Industries Minister KT Rama Rao here on Wednesday. Malabar Group also mentioned that the availability of quality human resources along with an investment-friendly atmosphere and policies of the government encouraged them to come forward and invest in Telangana.
The minister welcomed the Malabar Group and stated that Telangana government will provide complete support to the firm. He also expressed happiness over thecreation of employment opportunities in the region. He added that there are skilled jewellers in various districts and requested the company heads to consider creating employment for them in their firm.