Classic Diamonds sets up its 100% EOU of 50000 sq ft area at Surat

Classic Diamonds India Ltd has announced that the Company has recently set up its manufacturing facility upto 225,000 sq ft at Surat the hub of cutting and Polishing of Diamonds in India. This facility has a capacity to produce over 2.5 million stones a month. These facilities house state of the art technology and are certified with Systems and Standards such as ISO and the Best Practice Principles. It already houses an employee strength of over 3500.

Within this manufacturing facility the Company has obtained EOU status for 50000 sq ft area.

The Company expects turnover of $ 150.00 million and export of $ 30 million from the EOU during FY 2006-07. The Company will enjoy the EOU status and related benefits like l00% tax exemption and duty drawback etc till FY 2009.

Source : Equity Bulls

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