Malabar Gold and Diamonds, the flagship company of Kerala-based Malabar Group, has invested Rs 150 crore to set up a jewellery manufacturing unit in Bengal.

The plant, the 10th for the company, is located at Gems and Jewellery Park, Ankurhati in the Howrah district and spread over 50,000 square feet. The company will employ over 850 people to produce crafted jewellery including gold, precious gemstones and diamonds. The unit has an annual manufacturing capacity of four tonnes of jewellery and 36,000 carat of diamond jewellery.

“Bengal is one of the major jewellery manufacturing hubs and the state has a deep-rooted tradition of excellent workmanship. The state boasts the largest number of skilled artisans and goldsmiths in India. We are pleased to open our first manufacturing unit in the state to be a part of the tradition of jewellery making. We are grateful to the government of Bengal for supporting us,” said M.P. Ahammed, chairman, Malabar Group.