The Indian company VDA Diamonds is preparing to open a diamond cutting plant in the town of Abovyan, Armenia, Sputnik Armenia reports.

The financial director of the company, Sunil Jain, has said that a building for the factory has already been constructed, part of the necessary equipment has been delivered.

The Indian jewelry concern KGK Group – the parent company of VDA Diamonds – will invest funds in the project.

In the first 6 months, people behind the project are going to hire about 250 people and are hoping to bring that number to 400-500 in the future.

To process diamonds, the company will be using Indian, Swiss and Israeli equipment, implementing the water jet cutting technique.

Compared to the mechanical technique, this option provides for a greater accuracy, which means that it allows you to refrain from cutting off extra particles from the diamond, which would reduce its cost. For example, if the size of the diamond is reduced by 10%, from 1 to 0.9 carats, its cost is halved.