The ARY Group has embarked on a state-of-the-art gold and jewellery refining and production complex - ARY Aurum Plus. The refinery will have a capacity of over 100 tonnes per year.

The ground-breaking ceremony of the complex was held yesterday by Sultan bin Sulayem, chief executive of the Dubai Ports, Customs and Free Zones Corp and chairman of Dubai Metals and Commodities Centre (DMCC), at the centre's location off Sheikh Zayed Road.

The new complex will have automated equipment for minting coins, small and large bullion bars, detailed crafting, cutting and polishing of 18k, 20k and 22k gold jewellery, as well as diamond and precious stone jewellery, and many other products related to the industry.

Haji Abdul Razzak Yaqub, chairman of the ARY Group, said DMCC will definitely place the UAE as an epicentre for major gold, diamond and other commodity traders.

"The beginning of the DMCC project by the visionary leader of Dubai and the establishment of the ARY Aurum Plus, is my dream come true. We have always wanted the city of Dubai to lead the world in gold trade, and DMCC is the ideal platform for the ARY group to flourish," he said.

The ARY Group, a family-owned business established in 1970, has gone on to become one of the largest gold dealers in the world.

Over the last 32 years, the group has played a vital role in promoting Dubai as the City of Gold. A statement from ARY said the new venture will redefine the gold and jewellery industry and attract gold miners from across the globe.

DMCC, which was established last April, will offer complete services to those organisations involved in gold trading with physical trading facilities, storage hallmarking/assaying as well as package and delivery facilities available on site.