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RAPAPORT... On November 14, the Diamond Trading Company (DTC) Botswana selected 16 sightholders for the contract period of three years (2008-2011.) Mumbai-based Suashish Diamonds Ltd., through Suashish Diamonds Botswana, made the list as the first brand from India to receive that status in Botswana.
Ashish Goenka, managing director of Suashish Diamonds, said, “Suashish Diamonds has embarked on an aggressive expansion plan and our Botswana cutting and polishing facility has become operational in October this year. Becoming a DTC Botswana sightholder will also ensure that we get regular, assured supply of rough diamonds at competitive rates.”
Suashish Diamonds has already invested close to $2 million to set-up a 10,000 sq.ft. state-of-the-art diamond cutting and polishing facility in Botswana and began production in October.
Goenka said, “Starting a factory in Botswana is a forward looking step as Botswana is the world’s leading diamond producer by value alone and aligns with the desire of the government of Botswana for greater local beneficiation from the diamond industry.”
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