Malabar Gold & Diamonds invests 91 million USD to launch a manufacturing and refinery facility in Telangana
- This will be the group’s largest manufacturing facility which will produce 10 tonnes of gold jewellery and 150,000 carats of diamond jewellery annually
- The gold refinery facility to have annual gold refining capacity of 180 tonnes
- The multidisciplinary facility to generate 2750 employments
- The unit will support retail expansion and strengthen the Group’s mission – Make In India, Market to the World
With over 290 retail outlets across 10 countries, Malabar Gold & Diamonds, the 6th largest jewellery retailer globally, launched the construction of Malabar Gems & Jewellery Manufacturing unit in Telangana with a foundation stone laying ceremony. The facility is set to become the largest jewellery manufacturing unit of the group. Mr. K T Rama Rao, Minister of Municipal Administration and Urban Development, Industries, IT, Electronics and Communication, Govt. of Telangana laid the foundation stone of the manufacturing facility.
The ceremony took place in the august presence of Ms. Patlolla Sabitha Indra Reddy, Hon’ble Minister of Education, Govt of Telangana; Mr. Jayesh Ranjan, IAS, Principal Secretary, Industries, Commerce & Information Technology (IT), Govt of Telangana; Mr. MP Ahammed, Chairman of Malabar Group; Mr. Abdul Salam KP, Vice Chairman of Malabar Group; Mr. O Asher, Managing Director – India Operations, Malabar Gold and Diamonds; Mr. Nishad AK, Group Executive Director, Manufacturing & B2B, Malabar Group, other Malabar Gold & Diamonds management team members and distinguished guests.
Located at General Park in Rangareddy District and spread over 3.7 acres, the manufacturing facility is slated to be operational soon. It will have the capacity to manufacture 10 tonnes gold jewellery and 150,000 carats of diamond jewellery annually. It will also house a state-of-the-art gold refinery facility with an annual gold refining capacity of 180 tonnes. The manufacturing facility will manufacture a diverse range of jewellery including gold, diamonds, precious gemstones, platinum and uncut diamonds. The facility is equipped with CNC machining, latest technology-enabled chain making machines and laser cut machines in collaboration with industry experts from Italy, USA & Germany. The establishment of the facility is in line with the expansion plan announced earlier by the group as part of its FY 2022-23 strategy
The manufacturing facility which will be built on 230,000 sq ft area will have a full-fledged skill development centre, design studio and R&D centre along with accommodation facility for the employees. It will also have an automated warehousing facility. The facility will have 33 percent green space provision and will adhere to environmentally sustainable norms with a focus on limiting carbon footprint.
Malabar Gold & Diamonds will invest 91 Million USD to set up the manufacturing facility and a refinery in Telangana. The facility is expected to generate about 2750 jobs. Keeping in line with the brand’s outlook as a responsible jeweller, the facility has been designed to provide a safe and pleasant working environment to the employees. Malabar Gold & Diamonds has 17 retail showrooms in Telangana employing more than 1000 people. The company has plans to further expand its retail presence in Telangana.
The General Park facility will majorly support the domestic and global expansion plan of the group. Malabar Gold & Diamonds has plans to launch 97 showrooms – 60 across India and 37 overseas in FY23. The goal is to take the showroom tally to 373 by March 2023 with a robust presence in 13 countries. The expansion plan is in line with Malabar Gold & Diamonds’ aim to become the world’s largest retailer with a 2.5 times growth in revenue to over 9.3 Billion USD by FY25
Commenting on the foundation stone laying ceremony, Malabar Group Chairman M P Ahammed said, “The soon-to-be operational manufacturing unit in Telangana will further strengthen our manufacturing capabilities apart from our retail expansion drive. We are grateful to the Government of Telangana for extending all possible support in quick succession to help us set up the manufacturing unit in Maheshwaram and for their presence during the foundation stone laying ceremony. We have a major investment plan lined up for the state. The manufacturing unit in the state will further bolster our mission – “Make in India, Market to the World”.
Malabar Gold & Diamonds currently has retail operations in India, the GCC (the UAE, Kuwait, Bahrain, Oman, Qatar and Saudi Arabia), Malaysia, Singapore and the US. Expansion is in progress to Australia, UK, Bangladesh, Egypt, South Africa and Canada. Malabar Gold & Diamonds also has 5 manufacturing facilities in the GCC (Qatar, UAE, KSA and Oman) and 9 in India at Kerala, Tamil Nadu, Karnataka, Telangana, Maharashtra and West Bengal. The group has also laid the foundation for a new manufacturing facility in Bangladesh.
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
With an annual turnover of $4.1 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of over 290 outlets spread across 10 countries in addition to multiple offices, design centers, wholesale units and factories spread across India, Middle East, Far East & USA. The group, owned by more than 4,000 shareholders, has more than 14,000 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry at any time and on any day from the comfort of their homes.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
CSR has been the primary commitment of the group since its inception; integrating ESG (Environmental, Social & Governance) principles into the core business. The key CSR focus areas of Malabar Group are Health, Education, Women Empowerment, Housing, and the Environment. The ESG goals of the organization are periodically strengthened by integrating responsibility and sustainability to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation