"Markets for gold coins and bars is worldwide. We plan to export 60 per cent of the IHF metal art production," Shiv Shanker Gupta, chairman, Clarity Gold said, adding that this would include Swiss orders generated by F&H.
The balance production will be consumed in domestic market, he said. The joint venture, in which the Swiss firm would hold majority 60 per cent stake and the Indian partner the remaining 40 per cent, would commence operation by May 2006.
Faude and Huguenin also announced its entry into the Indian bullion market by launching investment gold bars under different denominations under the brand name 'HF Swiss Gold'.
The investment gold bars would be of "very high purity" of 999.9 in different denominations of 2.5,5,10,20, and 50 gram, Gupta said.
On the minting plant in India, Gupta said, the total gold processing and minting capacity of the plant will be about 300 tonnes per annum having a value of Rs 20,000 crore (Rs 200 billion) per annum.
The entire minting process involves refining metal to the correct proportion, rolling it into strips, cutting planchets from it, striking the coins, sorting and bagging them.
The company plans to make products like gold coins, bars, medals, pins, plaques and trophies, he said. The company is also exploring avenues for tie-ups with various banks and state organisations to build its distribution network.
According to the CEO of F&H, Manfred Gantner, though the plant capacity was very large, in the first year of operations, the company expects to achieve a turnover of about Rs 550 crore (Rs 5.5 billion) and grow upto Rs 2,000 crore (Rs 20 billion) by the third year."
"We expect to exploit overall capacity by the end of fifth year, with turnover exceeding Rs 10,000 crore (Rs 100 billion)", he said.
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