Firestone Diamond to Increase Rough Diamond Processing in Armenia
Tigran Sarkisyan explained the plan...India's Firestone Diamond has signed an agreement to purchase rough diamonds in Russia for processing at its enterprise in Armenia. Armenia's Prime Minister Tigran Sarkisyan explained the plan Thursday.
Firestone made major investment in Armenia's diamond cutting sector in 2009, he said, without specifying the amount. Firestone created 120 new jobs in Armenia just in 2010.
Former economic minister Nerses Yeritsyan said Firestone planned to invest "tens of millions of dollars" in Armenia's diamond industry, and that hundreds of jobs would be created.
It was reported earlier that Armenia decided against taking a $100 million commercial loan from Russia to buy rough diamonds. Instead, the government began negotiations directly with ALROSA in order to allow cutters to source directly.
By: Interfax Russia
Comments