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Raipur, Oct 5 IANS Chhattisgarh will invest Rs.1.7 billion $37 million to set up a gems and jewellery park at its upcoming satellite city Naya Raipur, state Industry Minister Rajesh Munat said here Sunday.

BUS7BusinessChhattisgarh to set up Rs.1.7 bn jewellery parkRaipur, Oct 5 IANS Chhattisgarh will invest Rs.1.7 billion $37 million to set up a gems and jewellery park at its upcoming satellite city Naya Raipur, state Industry Minister Rajesh Munat said here Sunday."We have decided to set up one of India's major gems and jewellery parks at Naya Raipur. A formal foundation stone was laid Saturday," Munat told IANS."The park, which will have all latest diamond cutting and polishing technologies, will be set up on 28.32 hectares at an investment of Rs.170 crore Rs.1.7 billion," he added. The park, which is likely to be ready in two years, will generate direct jobs for around 5,000 people and indirect employment for about 20,000 people. The park will be maintained by Chhattisgarh State Industrial Development Corp.Naya Raipur, located on the Mumbai-Kolkata national highway six, 20 km from here, will replace Raipur as the state's capital by 2011. The new city that will cover an area of about 8,000 hectares will be equipped with state-of-the art physical, social and economic infrastructure.--Indo-Asian News Service suj/sj/dg197 Words05101436