South Africa government mulls investing in hi-tech diamond factory in Surat:
SURAT: If all goes well, South Africa Government may sign a memorandum of understanding (MoU) with diamond industry leaders for setting up of a state-of-the-art diamond polishing factory in the world’s largest diamond cutting and polishing hub in the city in December.
A delegation of diamond industry leaders led by Kirti Shah was invited by South Africa Government in Johannesburg last week to discuss possibilities of direct supply of rough diamonds to merchants and unit owners and setting up of a diamond factory in Surat.
“Founder of India Africa Trade and Investment in South Africa, Muhammad Amir Mirza, who hails from Kosamba near Surat, is expected to visit the Diamond City on Saturday to meet diamond industry leaders over the plans of South Africa Government. With direct supply of rough diamonds by South Africa, diamonds will be much cheaper,” Shah said.He said a company will be formed in Surat to deal with South African Government in direct supply of rough diamonds. The government there is very keen to invest in a huge factory in Surat, where people from South Africa will be trained in diamond cutting and polishing. “”At present, diamond merchants in Surat have to visit Belgium, Israel and Dubai to purchase rough diamonds. Brokers sell rough diamonds at about 13 per cent rate difference.
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Surat traders to get diamonds directly from South Africa
Surat Diamond Association (SEA) has signed a Memorandum of Understanding (MoU) with South African government in Johannesburg to start a direct trade of rough diamonds from the country. As per the MoU, rough diamonds from the mines of South Africa will directly reach the traders of Surat and …