Industry News by Nemesis

Indian Diamond Firm to Set Up Diamond Center in Vladivostok

September 4, 2019

KGK DV, a subsidiary of the Indian diamond company KGK Group LLC, intends to invest about 1.5 billion rubles in the creation of a diamond center in Vladivostok. The center will be created on the basis of an existing diamond factory, Interfax reports. 


It said that according to the press service of the administration of Primorye, the governor of Primorsky Krai Oleg Kozhemyako signed an agreement with the general director of KGK DV LLC Ramani Vithalbkhai. 


The agreement was signed as part of the 2019 Eastern Economic Forum, which takes place in Vladivostok from September 4 to 6. 


In the new center will host several lapidary factories, Alrosa office, Gokhran of Russia and custom services. The project presumes the opening of a diamond exchange, the agency said. 
It was previously reported that the Indian government is considering the Far East region as an opportunity for further large investments. 


In 2018, diamond exports from the Far East amounted to 35.2 million carats sold for $ 2.88 billion, and in the first half of 2019, the turnover of Primorye with India increased by 22% compared to the same period in 2018 and amounted to almost $ 26 million. 
 

Source: Rough&Polished

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