KINFRA, Goldsikka sign MoU to set up GGC in Kannur

The MoU was signed between Kerala Industrial Infrastructure Development Corporation Managing Director Santhosh Koshy Thomas and S Taruj, Managing Director of Goldsikka Pvt Ltd, in the presence of Kerala Industries Minister P Rajeev here on Wednesday. This is a completely Environmental, Social, and Governance-compliant project and is expected to generate an annual financial turnover of Rs 3.5 lakh crore, Rajeev said in a statement.

KINFRA signed an MoU with Telangana-based Goldsikka Pvt Ltd to set up a Global Gold City in Kannur district, officials said on Thursday. GGC is conceived as a smart industrial city that will unify the entire gold value chain-from refining to physical trading-within a single ESG-compliant, high-tech zone. The MoU was signed between Kerala Industrial Infrastructure Development Corporation Managing Director Santhosh Koshy Thomas and S Taruj, Managing Director of Goldsikka Pvt Ltd, in the presence of Kerala Industries Minister P Rajeev here on Wednesday. ''This is a completely Environmental, Social, and Governance-compliant project and is expected to generate an annual financial turnover of Rs 3.5 lakh crore,'' Rajeev said in a statement. Under the agreement, 1,000 acres of land at Mattannur, under the KINFRA, has been allotted for the proposed project, he said. APM Mohammed Hanish, Additional Chief Secretary (Industries and Commerce), and S Vishnuraj P, Managing Director of Kerala State Industrial Development Corporation, were present at the event. According to KINFRA, the project is expected to create one lakh direct jobs within three years and one million employment opportunities within five years, besides generating revenue of 40 to 60 billion US dollars by the fifth year of completion. The project will include facilities for refining, vaulting and logistics, trading and manufacturing zones, digital gold and blockchain traceability systems, and a Gold University for training and skilling, KINFRA added.

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