Damas increases gold jewellery production by 50%

Damas International Ltd., is stepping up its gold jewellery manufacturing at its Dubai based factory, reports Reuters. Citing the increase in gold jewellery demand, the company has been prompted to scale up its production as well. It has projected to increase production by 50 percent in the next 16 months.

The company is a Middle Eastern jewellery chain. Presently, of the 12 tonnes of gold jewellery manufactured every year at the factory, around 50 percent is sold in domestic markets. Damas International owns the factory together with Emaar Industries and Investments.