The Gujarat Hira Bourse (GHB) entered into an agreement with the Gujarat government on Monday to develop a world-class jewellery mall at a cost of Rs 850 crore. The memorandum of understanding (MoU) was signed in Gandhinagar by Chief Minister Bhupendra Patel with Gujarat Hira Bourse chairman Jayesh Mistry.

GHB secretary Nanubhai Vanani said, “The Jewellery mall will come up at an estimated cost of Rs 850 crore on 55,000 square yards of land provided by the government in the Gems and Jewellery Park. We are planning over 800 showrooms and shops at the park for which the foundation stone will be laid by Chief Minister Bhupendra Patel early in 2022. Plan is to finish the project by 2025.”

Surat Jewellers Association Salimbhai Daginawala, Surat Jewellery Manufacturers Association president Jayenti Savalia, and Gems and Jewellery Export Promotion Council Gujarat region chairman Dinesh Navadia were present.