BOI-approved Diamond Cutters launches $ 12.5 m expansion

Monday, 6 February 2023 00:20 - - {{hitsCtrl.values.hits}}

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.