Saudi gold firm sees glint in Kolkata

Monday, 10 November 2003, 20:30 IST
Printer Print Email Email
KOLKATA: Saudi Arabia-based gold major L'Azurde is considering two production facilities here. L'Azurde officials from Riyadh have held several rounds of talks with the West Bengal government and visited the proposed sites for their factories. The global gold major's interest in setting up production facilities in the city is because of the state's abundance of skilled but cheap workforce. Goldsmiths from West Bengal are renowned for their craftsmanship and designing skills, and are employed in thousands in Mumbai, India's biggest jewellery market. The firm currently sources some of its requirements from manufacturers in Mumbai. It now wants to set up a gold jewellery manufacturing plant and a silver and diamond manufacturing factory. L'Azurde aims to export the entire production from these facilities to the U.S., Europe and Central and West Asian countries. If things work out fine, L'Azurde's factories will be the biggest in the Gems and Jewellery Park set up here. The park has been accorded the status of a special economic zone (SEZ). The park, which can accommodate 100 units, has an export zone promoted by the gems and jewellery export promotion council.
Source: IANS
siliconindia