Alrosa and Kristall launch Dubai market initiatives

Alrosa to assist in setting up of UAEs first diamond cutting and polishing factory

Post By : Diamond World News Service On 10 December 2005 12:00 AM

At the DMCC Kristall launched a specially designed Dubai cut, its 99 facets inspired by the traditional 99 names for Allah in Arabic. A joint design, manufacturing and design venture already under way with the Damas regional jewellery group unveiled a new cut at the show this week. Alrosa says it is to provide technical assistance to set up the UAEs first diamond cutting and polishing factory, information exchanges with the DMCC, and organization of a series of shows, "Seasons of Russian Diamonds" at the DDE in future.

A regular Dubai-Russia diamond working group has been set up to include senior executives of the DMCC, Alrosa and Kristall.

Alrosas chief executive, Alexander Nichiporuk, was in Dubai for a round of meetings. Alrosa indicated that it will open an office at the Dubai Diamond Exchange (DDE) to sell rough in Dubai. A preliminary announcement by Alrosa confirms that a joint delegation of Alrosa and Kristall of Smolensk met a range of government and industry leaders in Dubai from December 5 to 8.

The Kristall group was led by its chief executive, Maxim Shkadov. They met Sultan bin Sulayem, Chairman of the Dubai Metals and Commodities Centre (DMCC), and Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAEs Defense Minister. In the framework of the International Watch & Jewellery Show, the Russian delegation also met with representatives of the regional diamond business, including diamantaires from Saudi Arabia, Kuwait, Bahrain, Qatar, UAE, and Oman.

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