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Indian investor to inject $4.7 mln into second diamond cutting factory in Far East

The investor plans to develop Russian niche jewelry products

VLADIVOSTOK, August 12. /TASS/. An Indian investor plans to invest $4.7 mln into the second diamond cutting factory in the Primorsky Region, the regional administration said on its website on Monday.

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"M. Suresh Vladivostok Company is preparing one more diamond cutting project for launching in Vladivostok. Production is planned to start in eighteen coming months with a phased increase in volumes. The planned amount of investments is $4.7 mln. 200 jobs will be created at the enterprise. The investor plans to use established distribution and sales channels and subsequently develop Russian niche jewelry products," the administration reports.

The first diamond cutting factory was opened in Vladivostok in September 2017, with investments into the project estimated at 2.8 bln rubles ($42.7 mln), subject to required funds for raw diamonds purchase.

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