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KGK Group sets up facility in Vladivostok, Russia

Press Trust of India  |  Mumbai 

Integrated jewellery company spread from mining to retail The KGK Group, which was founded in Jaipur, today announced setting up of a diamond cutting and polishing factory in Vladivostok,

The company will invest RUB 2.8 billion on this new factory, spread across 1,555 square metre in Vladivostok, incorporating diamond cutting and polishing infrastructure and will engage 400 employees, KGK said in a release.

The installed manufacturing capacity is 150,000 carats of per year, it added.

"has been home for KGK since 13 years and being a corporate citizen of the region we understand its culture and people. We see enormous potential in far east region of and we are firm to make it a hub for diamond and jewellery business. We are already in discussion with our clients from Pacific who have shown interest in this region," said KGK Vice Chairman Sanjay Kothari said.

The facility was inaugurated by Russian President Vladimir Putin.

"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," added KGK Managing Director Sandeep Kothari.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 12 2017. 17:57 IST