ALROSA opens a branch in Russia's far East
On March 20, 2016, ALROSA Supervisory Board approved the decision to open a branch in Vladivostok. It is the first step on the way to creating Russian Diamond Centre in the Primorye Territory.
The branch will define the range of potential participants and investors to create Russian Diamond Centre within the scope of Vladivostok Free Port. The Company is implementing this project on the instructions of Yury Trutnev, Deputy Prime Minister of the Russian Government.
According to the Company President Andrey Zharkov, the first displays and sales of ALROSA's rough diamonds in Vladivostok are planned for this August-September in the lead-up to Eastern Economic Forum. In the scope of the Forum, the Company will also organize displays and auctions for the products manufactured by Brillianty ALROSA branch. Later on, regular trade in rough and polished diamonds, with the focus on the consumers from Asia-Pacific, will be organized as part of the created Diamond Centre.
The branch will be responsible for increasing ALROSA's sales, developing regional coverage, and expanding cooperation with companies and clients from Asia-Pacific, first of all, China, Japan, Singapore, and other countries.
The branch will also be in charge of the search for potential partners and investors to set up manufacturing facilities for the use of industrial grade diamonds and production of equipment for diamond cutting industry.
Special economic zone and relaxed visa requirements for foreign citizens were among other significant factors for opening a branch in Vladivostok. The branch will also collect information about the Asia-Pacific region from the point of view of the Company's interests.