(IDEX Online) - The head of Angolan diamond marketing company Sodiam said a second diamond cutting and polishing factory is to be established in Saurimo in February.
Sodiam CEO Neves Silva said that the plant, part of the company's strategic plan for the 2018-2022 period, will initially be able to process 4,000 carats of rough diamonds per month, according to a report on Macauweb.
The plant, with an estimated cost of $10 million, will start operating in August and will have a bigger capacity than Angola Polishing Diamonds, the country's only polishing plant for the moment.
In addition to the plant, the construction of an Industrial Development Hub in an initial area of five hectares, will also feature a training center, a hotel owned by state diamond exploration company Endiama, and other services such as banks and a tax office.
Neves Silva said the new plant is part of a partnership between Sodiam and Chinese companies Cbritec and Perfect Wealth Ltd, and will be built near Sociedade Mineira da Catoca.