Work at Gem Park set to begin

Centre releases Rs 16.70 crore out of Rs 50 crore promised grant

Work at the Gem & Jewellery Park project, being developed at Ichhapore in Surat, is set to gain momentum, with the Centre releasing the first installment of its grant.

"The Centre had assured to provide Rs 50 crore for the gem & jewellery park project under its Industrial Infrastructural Upgradation Scheme (IIUS). The first installment of the Rs 16.70 crore was received by us last week," said Nanu Vanani, secretary, Gujarat Hira Bourse, which is developing the project.

"The work related to the topography at the project site is in progress. We are also in the process of securing necessary approvals from concerned government departments," he said.

"Once these works are completed, which we expect to be done within a month or so, we would rope in an infrastructure agency or a consultant, which would prepare the final plan of the park. We believe it would be three-four months before the actual construction work commences at the site," he said.

Vanani said, "We have received the first installment. Once this money is used, we would approach the Centre with an utilisation certificate, and seek the second lot. We would also ask the state government to release the grant, once actual work starts," he added.

Also, the Gujarat Industrial Development Corporation (GIDC) has assured a grant of Rs 15 crore for the project.

Gujarat Hira Bourse would contribute Rs 10 crore, while Rs 10 crore would be raised from financial institutions.

The ground breaking ceremony of the gem park was performed by chief minister Narendra Modi on December 19.

GHB members believe that the park would be ready within two years.

On completion, the park is expected to boost the diamond and jewellery industry of Gujarat.

The gem park would be spread over 10 lakh sq metre, which GHB acquired from GIDC at Rs 22.50 crore.

The park would comprise approximately 400 gem and jewellery units. Information technology would also be equipped with a training centre, trading centre, research and development centre, exhibition hall, convention centre, and other facilities.