Gandhinagar: Tec-City Bullion Refinery (TCBR) is likely to get set up on countries first International Financial Service Centre (IFSC) in GIFT City in Gandhinagar. With a capacity of refining 0.5-tonne gold, this will be a Rs. 100 crores capital infusion.

It is expected, that the refinery’s foundation stone will be laid later this month, and it will be operational by 2023-24.

According to some reports, After operationalised refiners will move for accreditation by The London Bullion Market Association (LBMA). Therefore, the gold bars refined here will comply with international standards.

After accreditation, TCBR will be the first fully Indian gold refinery to be LMBA certified. Experts believe this to be a huge leap in the bullion exchange system if GIFT city.

DeshGujarat