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Billions in Diamonds

Resident of free port KGK continues to increase investments in diamond cutting in Primorye

Billions in Diamonds
Photo: Provided by AO KRDV
Special project TORA and Free Port
Russia is the world leader in the extraction of natural diamonds: the country accounts for about 30% of the volume of production. More than 90% of Russian diamonds are mined in the Far East. But until recently, in the immediate vicinity of the markets of the Asia-Pacific region, where the world's three largest consumers of precious stones are located - the US, China and India - there was no major cut-off production. ALROSA preferred to turn mined diamonds into diamonds at two production sites - in Moscow and in Barnaul. Meanwhile, now the main processing diamond industries are concentrated in India (60% of the processing market), China and Southeast Asia - closer to the consumption centers. 

The cutting production project in the Far East was born thanks to the collaboration between ALROSA and the world's leading manufacturer of precious stones and jewelry - the Indian corporation KGK Group. At that time, KGK already had its own diamond production in Russia - in Moscow and in Yakutsk (DDK). The company became one of the first foreign companies that was able to take advantage of the preferential treatment of the Free Port of Vladivostok, having received the status of a resident for its subsidiary OOO KGK DV. 

A closed technological cycle at a lapidary factory in Vladivostok is designed for processing rough diamonds supplied by ALROSA in the amount up to 9 thousand carats per month. The start of the 5 factory operation in September of 2017 was given by Russian President Vladimir Putin.
Investors have invested 500 million rubles in the creation of production facilities. "The Far East is a real mine of natural resources. The discovered reserves alone are worth more than $ 5 trillion. Geographically, the Far East occupies the most advantageous location for access to the countries of the Asia-Pacific region, with direct access to the ocean," explains KGK Group Managing Director Sandip Kothari.
The neighborhood of Vladivostok with the APR countries provides the factory with a rapidly growing market. In addition, for investors, its creation is the next step in the development of business within Russia. KGK plants already operate in Moscow and Yakutsk. The frontier production is being developed in cooperation with another resident company of the Freeport of Vladivostok, the Eurasian Diamond Center. The Center provides services for the storage and customs processing of valuable goods, including diamonds.
"The development of the Far East is one of the priority directions of the state policy of Russia regarding the development of the territories.The regime of the free port of Vladivostok is one of the key measures to support business and attract investors, which is currently being implemented and aimed at the social and economic development of the macroregion.The free port of Vladivostok - A tool for intensive growth of the Far Eastern territories of Russia Given the vision of the Russian government for the development of the Far Eastern region, KGK prides itself on to join this initiative and will try to bring the benefits of investing in this region to its partners in the Asia-Pacific region and in other regions ", - says Sandeep Kothari.
Now, KGK DV has announced a second set of short-term training courses in the specialty diamond cutter in diamonds with guaranteed employment in Vladivostok.  
"At the moment, a tripartite agreement has been signed between KGC DV, the Department of Education of the Primorsky Territory Administration and the Agency for Human Capital Development in the Far East, through training programs for cutter specialists with subsequent employment (2018 for 50). with an increase in the number of employees to 440 people by 2020.The total investment, taking into account the necessary funds for the purchase of rough diamonds will exceed 2,8 billion rubles, "- say Commercial Director of "KGC DV" Elena Volosnova.
The training is conducted in two stages: the theoretical course is conducted on the basis of the Vladivostok Energy College with the involvement of teachers from the GAPOU "College of Entrepreneurship No. 11" (Moscow), the only educational organization in Russia where specialists are trained in the relevant specialty. Practical course - directly at the enterprise in Vladivostok.
KGK DV says that they see a serious prospect for the development of the diamond industry in the Far Eastern Federal District, since the region has all the necessary infrastructure for the development of the industry. Indian businessmen are inclined to think that the Far East can become the center of the diamond industry, like Antwerp and Mumbai. At the same time, the company is ready to work on creating a special brand, thanks to which the integrity of Russian natural diamonds will be preserved.
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