Gitanjali Gems to consider expansion plans on July 31

New Delhi, July 24 (UNI) Gitanjali Gems today said its board will meet on July 31 to consider its expansion programme and to issue financial instruments for raising of funds for the same.

The meeting will also take on record the unaudited financial results for the quarter ended June 30, 2006.

Last month, the company received the central government's approval to set up a gems and jewellery special economic zone (SEZ) near Hyderabad with an investment about Rs 500 crore.

The project, to be completed by 2008, will come up on a 200-acre piece of land.

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