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President Vladimir Putin launches KGK’s venture in Vladivostok

13 september 2017
The KGK Group has announced the opening of its high-tech diamond cutting and polishing factory on 5th September 2017 in Vladivostok, launched by the President of Russian Federation Vladimir Putin, through a Press release received from the company.
President Vladimir Putin in his address said, “We have just discussed this a year ago of this cooperation with Prime Minister Narendra Modi. And it is upon his initiative that our cooperation in this area is developing dynamically, thanks to his decision to develop cooperation in the diamond sector. We have almost increased twice the supplies of diamond raw materials to Indian facilities. Our company ALROSA is ready to broaden cooperation and deepen it even further, we will of course, welcome all the efforts taken by you on this territory of Russian Federation. We will always support such initiatives. Good Luck!”

The factory launch was followed by a lamp lighting ceremony and get-together at the KGK factory in Vladivostok. The event was honored by the presence of Primorsky Territory Vice-Governor Evgeny Polyansky, Sergey Ivanov, ALROSA President; Yuri K Okoyomov, ALROSA Vice President; Sr management team of VTB, Rosbank, PING An Bank, NGTC and ABN Amro along with senior officials of the Russian government. The event also witnessed the company of KGK’s business associates from Mainland China, adds the press statement.
“Russia has been home for KGK for 13 years and being a corporate citizen of the region we understand its culture and people. At KGK we see enormous potential in Far East region of Russia and we are firm to make it an outstanding hub for diamond and jewellery business. We are already in discussion with our clients from Asia Pacific who have shown interest in this region.” expressed Sanjay Kothari, Vice Chairman, KGK.

Sandeep Kothari, Managing Director, KGK said “We are impressed with the cooperation of Government Authorities and the fiscal incentives offered in Vladivostok. This has given us the confidence to augment our portfolio of diamond factories by setting up a unit here. We share the same vision as that of the leaders of the nation of promoting investments, creating value addition and job creation of the region where we operate and am glad that we have been given the opportunity to contribute to the drive.”
Expressing gratitude to ALROSA, Vithal Ramani, Partner & General Director said, “We are proud to sign a long term contract with ALROSA for rough supply. We appreciate Ivanov and his team for extending full support for this venture to be successful. We assure our dedication and commitment to manufacturing here.”
The new KGK factory is a 1,555 sq. metre facility incorporating the latest diamond cutting and polishing technology and employs around 400 personnel. With an investment of RUB 2.8 bn, the unit's installed manufacturing capacity is 150,000 cts of diamonds per year.
Navrattan Kothari, Patriarch, KGK attended the Meeting for Representatives of Foreign Business Circle during 3rd Eastern Economic Forum presided over by Vladimir Putin, encouraging talks towards investments in various businesses in Russia.

Aruna Gaitonde, Editor-in Chief of Asian Bureau, Rough & Polished


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