Ahmedabad: Gujarat chief minister Vijaybhai Rupani on Sunday laid the foundation stone for the Surat Diamond Bourse (SDB), saying it would put the city and the state on the map of world.
This is the second time SDB’s foundation stone has been laid in less than two years. In February 2015, the then chief minister Anandiben Patel laid its foundation stone, but delays in allotment of land and other issues held up the project.
When the bourse is operational, the world will come to Surat for buying polished diamonds, the chief minister said.
SDB is a company floated by diamond barons who plan to invest Rs1.25 trillion to establish it over a period of four years, according to the SDB website.
Representatives of the company will submit a formal expression of interest to the Gujarat government regarding the proposed investment during the next Vibrant Gujarat summit, it added.
To be constructed on 36 acres of land, SDB will house more than 400 offices of world diamond traders and will create more that 150,000 jobs. It will house facilities including safe deposit vaults, a museum, custom office, money transfer desks, travel desk, retail zone, auction house and a diamond club, the state government said in a media statement.
The purpose of the project is to attract buyers from across the world to Surat to plan and execute business transactions at one place. The proposed hub will have 22 interconnected buildings of more than 20 floors and house more than 10,000 offices.
SDB is like to pose a challenge to Bharat Diamond Bourse, located in the Bandra-Kurla Complex (BKC) in Mumbai and spread in about 20 acres with a total constructed area of 2 million square feet and 2,500 offices of various sizes.
More than 90% of diamonds manufactured in Surat are traded in Mumbai and exported to countries across the world. SDB has over 12,000 members.
SDB is the anchor company for the Diamond Research and Mercantile (DREAM) City project to be spread in an area of about 2,000 acres on the outskirts Surat, at Khajod.
Earlier this year, the urban development and urban housing department of the Gujarat government issued a notification sub-dividing the area under Surat Urban Development Authority (SUDA) and constituting the Khajod Urban Development Authority (KUDA). The powers and functions of the DREAM City Co. Ltd have been entrusted to KUDA.
Anandiben to arrive in Surat on Sunday with a basket of housing dreams
Gujarat Chief Minister Anandiben Patel, in a dazzling ceremony, will perform the ground breaking ceremony for the ambitious Diamond Research and Mercantile DREAM City and the world-class Surat Diamond Bourse at Khajod in the diamond city of Surat on February, 15. The entire DREAM City project will take place on 2000 acres of land. At least 20,000 people from the diamond industry in India and abroad are expected to attend this glittering ceremony. The CM will be accompanied by the Union Commerce Minister Nirmala Sitaraman. She will attend at least six programs in Surat on Sunday.
The Dream city will primarily consist of Surat Diamond Bourse that will be constructed at the cost of Rs. 1,25,000 crore, in an area of 1.5 crore square feet, will house 10 thousand odd offices for the diamond traders from India as well as foreign countries. Facilities for the diamond traders from various countries to sell their rough diamonds and also to buy polished diamonds will be provided here. International level banking and insurance services as well as import export facilities will be made available at the Diamond Bourse. The Diamond Bourse, that is expected to provide employment to 1.50 lakh people directly and around five lakh people indirectly, will have its independent custom and central excise office. The Chief Minister will also visit the mega exhibition dome, displaying the models of SDB and DREAM City.
The ambitious Dream City will have Central Business District CBD, that will not only consist of Diamond Bourse but also high rise district area with land mark buildings, office complex, exhibition complex, training schools and private as well as nationalized banks. Located near Surat Air Port and national highway, it will be connected with Surat city through BRTS city link. The project will have wide roads, gardens, commercial as well as residential complexes, modern hospitals and medical facilities, five star hotels, restaurants and business clubs. It will also have a world-class convention centre, indoor and outdoor sports complex, world-class educational institutes and recreation centers. It will have Wi-Fi facility, smart and intelligent system and supportive back up facilities.
The DREAM City project will be implemented by DREAM City Company Limited, a State Government owned Special Purpose Vehicle SPV, being formed especially for implementing the project successfully expeditiously.