Indian company opening diamond cutting plant in ArmeniaMarch 3, 2023 - 16:06 AMT PanARMENIAN.Net - 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |