17:59:58 GMT, 01 February 2008
The Indian state-owned trading company, MMTC, has unveiled plans to establish a gold medallion and a manufacturing unit gold refinery as part of a joint venture with an international partner.
The company, which was founded in 1963 by the Indian government as an agency for import and export, support commercialization of medallions by setting up a number of retail outlets across India.
Jewellery from other sources will also be sold in stores, which would open in partnership with a domestic company, MMTC said.
MMTC is the largest importer of gold and silver in the Indian sub-continent, 100 million tons of processing of gold and 500 million tons of money each year. She also sells jewelry through retail stores in major cities such as Mumbai and Chennai, as well as the international airport.
The company is India's largest international trading firm with an annual turnover of $ 5 billion (2.54 billion pounds).
Saturday, February 2, 2008
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