Business news

GRODNO, 1 April (BelTA) – Synthetic diamonds will be made by a new resident company of the free economic zone Grodnoinvest in Grodno Oblast, BelTA learned from Dmitry Rozhkov, deputy head of the FEZ Grodnoinvest administration.

OOO Synthetic Diamonds was registered as a resident company of the free economic zone Grodnoinvest on 30 March. The company intends to start synthetizing diamonds for industrial purposes and jewelry purposes. The new enterprise is supposed to be built at Grodnoinvest’s site in Smorgon. As much as €18 million (primarily foreign investments) will be channeled into the project. About 20 jobs will be created. The first diamonds will be made in 2018.

According to FEZ Grodnoinvest administration representatives, the new enterprise will use advanced technologies, will be export-oriented and unparalleled in Belarus. It will make synthetic crystals (diamonds) that will come in handy for industrial applications: instrument engineering, optics, electronics, abrasive tool manufacturing. The manufacturing technology will rely on single-crystal synthesis using cubic presses. It allows making large stones of a wide variety of colors within a comparatively short period of time. OOO Synthetic Diamonds will also make products for the jewelry industry.