Suashish Diamond to invest $60M for cutting centre in Botswana
by Jo Black
An Indian diamond company, Suashish Diamond (SDL), has plans to open a $60-million diamond cutting and polishing centre in Botswana.
Suashish, which is currently one of India’s largest exporters of diamonds, was recently named a Botswana Diamond Trading Company sight holder, the only Indian company to place on the list.
The company said that the facilities in Botswana will help ensure the company would not be constrained by futures shortages in diamond supplies.
Suashish managing director Ashish Goenka was quoted by an Indian business newspaper as saying that the company was planning to invest $10 million in the Botswana operations in the first year, and the investment may go up to $60 million in another three years
The company expects a revenue of $20 million in the first full year of operations, going up to $70 million by the end of the third year of operation.
Story link: Suashish Diamond to invest $60M for cutting centre in Botswana
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