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Indian companies ready to invest half billion in Russian diamond miner Alrosa

Russia's largest diamond miner Alrosa said on Thursday it planned to sign three-year contracts with three Indian companies on the delivery of uncut diamonds worth $490 million.

 

Russia's largest diamond miner Alrosa said on Thursday it planned to sign three-year contracts with three Indian companies on the delivery of uncut diamonds worth $490 million. The deals are expected to be signed with Diamond India Ltd., Ratilal Becharlal & Sons, and Rosy Blue during a working visit by Russian Prime Minister Vladimir Putin to India on March 11-12, Alrosa said. 

 

Alrosa accounts for 25% of the global diamond output. In 2009, the company produced diamonds worth $2.2 billion, with its sales equaling the same amount. In 2010, the company expects its output to reach $2.31 billion in terms of value and diamond sales to hit $3.3 billion. The Russian government holds a controlling stake in Alrosa.

Source : RIA Novosti