ROSY BLUE TO DIVERSIFY INTO OILSEED PROCESSING

ROSY BLUE TO DIVERSIFY INTO OILSEED PROCESSING
- Aimed at generating employment in the region, says Russell Mehta

De Beers Diamond Trading Company (DTC) sightholder Rosy Blue (India) Pvt. Ltd. is planning to set up either a castor seed or an isabgol (psyllium seed husks) processing plant in Gujarat, the financial daily Business Standard reports. The company has approached the state government to acquire 50 acres of barren land for the project, the report said.

“Diamond being the core business for us, we thought of getting into a second or third leg business,” said Rosy Blue chief operating officer Russell Mehta. “Though the company is yet to decide whether it would set up a castor seed processing plant or an isabgol plant, ultimately we intend to generate some more job opportunities in the region,” he added.

Rosy Blue also intends to set up a cutting and polishing unit near Palanpur, a historic diamond processing centre. “As of now, we are satisfied with our diamond cutting and processing capacity. Yet, the new plant is again an effort to generate more employment in that region,” Mehta remarked.

Business Standard said the new factory will be established through Rosy Blue shareholder, Banaskantha Industries Pvt. Ltd., on an additional 50-acre plot of land.