KGK Signs Agreement with PJSC Alrosa

Mumbai: KGK Diamonds and Russian miner Alrosa, once again come together with an interest to widen partnerships and a step to develop the diamond industry in Russia. An ‘Agreement of Intent’ has been signed by both parties, during the Second Eastern Economic Forum held on September 2-3, 2016; on the creation of a diamond cutting and polishing unit in the Eurasian Diamond Centre premises in far east region of Vladivostok, Russia. Mr. Andrey Zharkov represented PJSC Alrosa and Mr. Ramani Vithalbhai Vallabhbhai represented KGK Group.

KGK Group’s Russian companies ‘S D Diamonds LLC’ and ‘DDK LLC’ are already engaged in the field of cutting and polishing of rough diamonds in Russia since 2004 and Alrosa has been supplying natural rough diamonds to KGK since 2008.

Considering the longstanding association the parties were keen on establishing a diamond cutting and polishing factory by KGK on the territory of the Diamond Center in the Far East (Vladivostok, Russia). KGK will soon undertake the commitment to establish the new factory in addition to its existing setups in Russia, wherein Alrosa will provide KGK with greatest possible assistance towards the same. The new manufacturing facility is planned to be developed approximately by July 2017 boosting the employment opportunities, beginning with about 150 employees that is estimated to grow up to 500 in subsequent years. The projected manufacturing capacity of at least 15 000 carats of natural diamonds per year will be reached within four years from its start.

Mr. Ramani Vithalbhai Vallabhbhai, General Director, S D Diamonds LLC expressed his earnest gratitude to the Government of the Russian Federation, regional administration, and all presented. He said “We are sure that this association will surely help us gain high power pulse to successfully develop the new facility in the segment in which we are already working successfully for a long time”.