Russia’s Diamond Giant ALROSA To Launch Armenia Jewelry Business

RUSSIA’S DIAMOND GIANT ALROSA TO LAUNCH ARMENIA JEWELRY BUSINESS

RusData Dialine – BizEkon News
August 7, 2007 Tuesday

Russia’s largest diamond producer ALROSA could launch a jewelry
business in Armenia, the company’s president said on August 6.

The government of Armenia and ALROSA, which accounts for 97 percent of
Russia’s raw diamond production and for 25 percent of global output,
signed on August 6 in Yerevan an agreement on cooperation in the
jewelry and diamond- cutting sectors.

"The Russian jewelry market has huge vacant niches and we do not
rule out the possibility of utilizing the capacities of Armenian
jewelry enterprises for the placement of orders," Sergei Vybornov,
ALROSA’s president, said.

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