Bhubaneswar: The Odisha government has accorded in-principle approval for the establishment of a Gems and Jewellery Industrial Park at Ramdaspur of Cuttack district.
The offer submitted by Gitanjali Gems Ltd as anchor investor came up from the initiatives taken by the government for upcoming Make in Odisha Conclave. The total investment envisaged in this private industrial park spread over 100 acres is approximately Rs 700 crore over the next seven years.
The provisional approval for the establishment of the park was given at the state level committee meeting held under the chairmanship of Chief Secretary Aditya Prasad Padhi.
The proposed components in the park included precious and semi-precious diamond cutting, diamond polishing, designing of gold, silver, platinum & diamond jewelry, manufacturing of the jewelry, manufacturing of fashion jewelry, manufacturing of lifestyle products, retail centers, and export houses.
The company proposed to bring in its associates and promoters like Asmi, Nakshatra, GILI, Sangini, Nirvana, Kairana, Valente, Viola to the park.
The project envisaged the employment potential of creating jobs for around 16,000 people in 3 different phases out of which 4,000 would be engaged in the first phase. The expenditure for development of infrastructure has been estimated at Rs.129.5 crore in three different phases including the common facility centers.
The park will need 100 acres of land and 300 MW power.
The committee decided to advise the project proponent to submit the Detail Project Report (DPR) within six months for consideration of final approval.
The intelligentsia hoped that establishment of the Park would be a great boost for development and propagation of the great filigree tradition of Cuttack district.
Gitanjali gems had proposed setting up a gems and jewelry processing unit during discussions with the state delegation during Make in India week in Mumbai in February 2016. The company had submitted its application and the same had been approved by the State Single Window in May 2016.