ALROSA SUPPLIES 4 ARMENIAN DIAMOND PROCESSING COMPANIES WITH US$1M IN ROUGH DIAMONDS

Tacy
Dec 23 2007
Israel

Russian diamond giant Alrosa has started implementing an agreement it
signed in Yerevan, Armenia, last August, in an effort to strengthen
Armenia’s fledgling diamond processing industry. Under the agreement,
Alrosa pledged to resume supplying Russian rough diamonds to cutting
and polishing factories in Armenia.

So far, out of the 22 Armenian diamond cutting firms that applied to
Alrosa following the agreement, four of them have been selected to
receive Russian stones, Alrosa Chairman Sergey Vybornov told local
news sources. He also said that these four companies have already
been supplied with US$1 million in rough diamonds.

Sergy Oulin, Vybornov’s Deputy, also told local reporters that Alrosa
plans on supplying the Armenian firms with US$28 million worth of
rough diamonds during the next year and could raise its volume in 2009.

Armenian’s Minister for Trade and Economic Development Nerses Yeritsian
said that the Armenian government is actively working with Alrosa to
possibly expand the diamond company’s presence in other sectors of
the Armenian economy, though no details have been forthcoming