Shiv Shanker Gupta, chairman of Clarity Gold, said: "There is a worldwide market for gold coins and bars. We plan to export 60% of the production from the new plant."
The plant is expected to start operations from May 2006, he added.
Faude and Huguenin also announced its entry into the domestic bullion market by launching investment gold bars under the brand name HF Swiss Gold.
The bars would be of very high purity gold in different denominations of 2.5,5,10,20 and 50 gram, Gupta said.
