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BOI-approved Diamond Cutters Ltd launches US $ 12.5 m expansion project

In addition to the coloured gemstone industry, the diamond cutting and polishing industry is one of the island’s export success stories.

Having infused new technology into the industry, Sri Lanka now produces beautiful and contemporary polished diamonds that are recognized internationally.

The diamond cutting & polishing industry in Sri Lanka is highly organised and the diamond cutter companies have factories that are equipped with modern equipment.

Sri Lanka has earned a reputation for its high-quality cutting and polishing Diamonds, while country’s specialty is small diamonds of exceptional high- quality, which are imported sawn or cleaved rough.

In addition to the traditional brilliant cut, many cutting companies handle other specialized shapes and cuts, particularly tapers, baguettes and princes etc.

While most of the rough diamonds imported for processing are sawn or cleaved in Belgium; a few companies purchase rough diamonds in the open market, selling the cut and polished product through overseas affiliates.

The industry in Sri Lanka is highly organised and the factories are equipped with modern equipment.

Sri Lanka is a member of the International Diamond Agreement, Manufacturing Association and a signatory to the Kimberley Process.

Sri Lanka is a member of the international diamond community, having joined the International Diamond Manufacturers Association.

The latest BOI-approved expansion project worth $ 12.5 million of Diamond Cutters Ltd., recently launched its factory at the Modarawila Industrial Zone, Panadura.

Indian High Commissioner Gopal Baglay, BOI Director General Renuka M. Weerakone and other distinguished dignitaries attended the launch.

Diamond Cutters Ltd is Sri Lanka’s highest export earner in the gem and jewellery segment and a subsidiary of Niru Group of Companies.

The expansion project is a new factory, dedicated to cutting and polishing diamonds completely for the export market, which will create 1,500 new job opportunities.

From 3D diamond scanners to the world’s best diamond polishing benches will be used for polishing diamonds for leading brands enabling local workers to learn about new technology.

The new facility also demonstrates a clear motion of Diamond Cutters resilience and the growing confidence of the investors.

Established in 1987, Diamond Cutters, together with Niru Lanka Exports Ltd., solidifies Niru’s value chain with about 49,000 square feet of workspace and over 1,300 employees

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