Cabinet clears creation of SPV for Surat Dream City
TNN | Feb 5, 2015, 06.31 AM ISTGANDHINAGAR: Gujarat cabinet, chaired by chief minister Anandiben Patel, on Wednesday approved the proposal to form a special purpose vehicle (SPV) to establish a new city in Surat called Diamond Research and Mercantile (Dream) city. The CM will lay stone of the new city on February 15.
With an intention to providing international market of diamond trade at home front, Surat Dream City will be developed over 2,000 acre of land. According to a state government release, world's 90% diamonds are polished and cut in Gujarat in different pockets like Surat, Navsari, Bhavnagar and Amreli, but the industry lacks proper facilities for its trade. Once the Dream city project is realized, traders from all over the world will be able to come here and sell rough diamonds directly. They will be also able to purchase polished diamonds from the same place.
Surat Diamond Bourse (SDB) will come up in the Dream city over an area of 1.50 crore square feet.
With an intention to providing international market of diamond trade at home front, Surat Dream City will be developed over 2,000 acre of land. According to a state government release, world's 90% diamonds are polished and cut in Gujarat in different pockets like Surat, Navsari, Bhavnagar and Amreli, but the industry lacks proper facilities for its trade. Once the Dream city project is realized, traders from all over the world will be able to come here and sell rough diamonds directly. They will be also able to purchase polished diamonds from the same place.
Surat Diamond Bourse (SDB) will come up in the Dream city over an area of 1.50 crore square feet.
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