Moscow: The ALROSA Supervisory Board has approved the recent decision to open a branch in Vladivostok, as the company seeks to capitalize on rough and polished trade with the Asia-Pacific region. It is thought that the decision will pave the way for the creation of a Russian Diamond Centre in the Primorye Territory.

The Vladivostok branch will be responsible for increasing ALROSA’s sales, developing regional coverage and expanding cooperation with companies Japan and Singapore, and principally China. The branch will also be tasked with sourcing potential partners and investors, to establish manufacturing facilities for the use of industrial grade diamonds and producing diamond cutting industry equipment.

ALROSA president Andrey Zharkov said that the first displays and sales of the company’s rough diamonds are planned to take place in Vladivostok in August-September, in the lead up to the Eastern Economic Forum.

It is thought that the Vladivostok branch will likely be Special Economic Zone, with relaxed visa requirements for foreign nationals.