The Hindu Business Line : DMCC opens jewellery unit to boost Dubai's output

DUBAI Metals & Commodities Centre (DMCC) has opened a purpose built Jewellery & Gemplex manufacturing facility for international and regional jewellery manufacturers on a freehold basis.

The project is expected to increase Dubai's capacity for jewellery production by 25 per cent in the next three years.

It will also support Dubai's burgeoning jewellery industry and its international integration objectives, DMCC said in a statement today.

"Dubai is the infrastructural and geographical hub for jewellery production and, with its focus on high-end manufacturing, DMCC initiatives and partnerships have helped foster and develop Dubai as a destination where international manufacturers can consolidate their operations," said Mr Ahmed bin Sulayem, Chief Operations Officer, DMCC.

Current industry statistics show that approximately 45 tonnes of jewellery was manufactured in Dubai in 2003 using scrap gold and bullion bars, this figure is anticipated to increase to by 25 per cent by 2008.

Dubai is also currently the highest per capita consumer of gold in the world and the world's second largest re-distributor of bullion. In 2004 it imported 503 tonnes and re-exported 260 tonnes.

With Dubai Gold & Jewellery Group (DGJG) data suggesting that 95 per cent of Dubai's tourists purchase gold and jewellery, there appears to be a need for increased output supported by an established production base in the Emirate.

Indian jewellery manufacturers are among a wide international mix of clients to set up base in the first of the three buildings at the complex.

DMCC is facilitating the development and expansion of the regional precious metals market by working with regional and international partners to promote the highest global standards in product and service development. Encouraging greater transparency to benefit all market participants, DMCC has planned market infrastructure, including free zone status, secure vault facilities, purpose-built refineries, workshops and assay facilities.

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