Ahmedabad, Sept 24: The Rs 110-crore state-of-the-art gold integrated jewellery plant set up by Mumbai-based Parekh Platinum Ltd (PPL), at GIDC Gem & Jewellery Park on the outskirts of Ahmedabad, has commenced commercial production of a wide spectrum of industrial products and jewellery in 9, 14, 18, 22 and 24 caratages.According to PPL general manager (HRD) VU Asnani, the plant is the first of its kind in Asia to manufacture powder, paste, components (both stamped and investment casting), semi-finished products and assembly finished jewellery of international standard under one roof.
He told The Financial Express that with the adoption of latest technology, PPL has plans to export machine made products to Europe and the US, exports comprising almost a half of the total turnover. It would substantially raise India's share in the world gold jewellery market too, up from the present meagre level of 0.7 per cent.
He said the Ahmedabad plant is the first of its kind in the country to manufacture clasps, spring rings, locks, pin, etc, as fixtures for chains, bracelets, etc. Its investment casting plant will produce intricate parts, coins and medallions.
The product mix of the Ahmedabad plant will be different from that in its first facility in Mumbai.
PPL with a net worth of Rs 200 crore is the only listed company in India dealing in precious metal. With the commissioning of the Ahmedabad plant, it proposes to increase its turnover from Rs 400 crore to Rs 600 crore.
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