KINFRA Signs MoU with Goldsikka Pvt Ltd to Set up Global Gold City at Mattannur

THIRUVANANTHAPURAM:
Kerala Industrial Infrastructure Development Corporation (KINFRA) signed a Memorandum of Understanding (MoU) with Telangana-based Goldsikka Pvt Ltd on Wednesday for setting up a smart industrial city named Global Gold City (GGC) at a 1000-acre site at Mattannur in Kannur district.

GCC is conceived as a smart industrial city unifying the entire gold value chain from refining to physical trading in a single ESG-compliant high-tech zone. The MoU was signed between KINFRA MD Santhosh Koshy Thomas and S Taruj, Managing Director of Goldsikka Pvt Ltd, in the presence of Minister for Industries, Law and Coir P Rajeeve.

“This a completely ESG-compliant project, which is expected to generate an annual financial turnover Rs 3.5 lakh crore,” Rajeeve said. Under the agreement, 1000 acres of land in Mattanur under KINFRA has been allotted for the proposed project.

APM Mohammed Hanish, Addl Chief Secretary, Industries and Commerce, and Vishnuraj P, Managing Director, KSIDC were present at the event. The project is expected to create one lakh direct jobs in three years and a total of one million employment opportunities in five years, besides generating a revenue of $40-$60 billion by five years of its completion.

The project will have facilities for refining, vaulting & logistics, trading and manufacturing area, and Digital Gold & Blockchain Traceability and Gold University for training and skilling.