Gandhinagar, DeshGujarat

Gujarat cabinet meeting chaired by Chief Minister Anandiben Patel today took an ambitious and long-term decision to establish a new city in Surat called Diamond Research and Mercantile(DREAM) city.

With an intention to provide international market of diamond trade at home front, Surat Dream City will be developed over 2,000 acre land.

The state government will set up a Special Purpose Vehicle(SPV) called Diamond Research and Mercantile City Company Limited for this purpose. This SPV will work for fast and successful implementation of Dream City project.

According to a note issued by the state government, world’s 90% diamonds are polished, cut in Gujarat in different pockets like surat, Navsari, Bhavnagar and Amreli, but the industry lacks proper facility for its trade. Once Dream city project is realized, traders from all over the world will be able to come here and sell rough diamonds directly. They will be also able to purchase polished diamonds from the same place. Presently, Surat diamond traders need to travel to Mumbai to sell diamonds.

Government note further says: The Dream City project will give global level best quality physical and social infrastructure to diamond city Surat for diamond bourse and diamond trade. Smart City, wi-fi connectivity, smart and intelligent system and supportive back up facilities, international convention center and air connectivity, elevated mono rail and skill development initiatives in diamond sector will create win-win situation in Surat.

Surad Diamond Bourse

Surat Diamond Bourse(SDB) will come up in Surat Dream City over an area of 1.50 crore square ft. Ground breaking for this proposed project will be performed on 15 February in presence of Chief Minister and state Finance Minister among others. SDB will have international bank, custom house, five-star hotels and other facilities. There will be total 10,000 offices in 10 interconnected towers having 1.50 crore square ft construction, with 35,000 car parking facility, 70,000 two-wheeler parking facility, employment opportunity to 6.5 lakh people. The project cost is estimated at Rs. 15,000 crore. As per an estimate 5,67,510 cubic meter concrete and 7,37,760 mt steel will be used in this project. Deadline of completion of this project will be 31st December 2019.

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