Aerens Gold Souk Group, a real estate developing company, is constructing a ‘Gold and Diamond Park’ over 33 acres in Kalamassery, Kochi, Kerala and believes it to become ‘Kerala's biggest initiative for the gems and jewellery industry’. The project is conceived with an investment of Rs. .450 crore, and is part of a 240 acres hi-tech park promoted by KINFRA (Kerala Industrial Infrastructure Development Corporation). Ashish Gupta, Vice Chairman and Joint Managing Director, Aerens Gold Souk Group says, it is “a landmark for jewellery manufacturers, retailers, artisans, exporters and wholesalers to interact, network, source and promote business prospects”. He further adds, “It will help facilitate standardisation in the industry, create products that are acceptable in international markets, provide steady employment opportunities and make available latest technologies with a view to preserving the State's traditional jewellery industry.” %% The company expects to ready the manufacturing facility at the park by September 2011, and the entire project within three years. The park will also house residencies for manufacturers (Gold Souk Residencies), along with a 5 Star Hotel, Mall and office complex. %% According to the company, it plans funding the project partly though internal accruals and joint ventures and partly though private equity (PE) fund and is in talks for joint ventures with manufacturers from Middle East, Italy, Turkey, Malaysia, Singapore and Thailand.