India’s Niru Group’s Diamond Cutters invests US $ 12.5mn in new factory

Diamond Cutters Ltd, Sri Lanka’s highest export earner in the gem and jewelry segment, is expanding its operations with a US $ 12.5 million new factory dedicated to cutting and polishing diamonds completely for the export market.
The expansion project, which is located at the Modarawila Industrial Zone, Panadura, has received the investment approvals from the Board of Investment (BOI).

Diamond Cutters is a subsidiary of India’s Niru Group of Companies.

A press release by the BOI said the new factory would create 1,500 new job opportunities in the market. 

“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,” it added.

Established in 1987, Diamond Cutters Limited together with Niru Lanka Exports (Pvt.) Limited solidifies Niru’s value chain, with about 49,000 square feet of workspace and over 1300 employees.

The ceremonial foundation stone laying of the new factory was attended by Indian High Commissioner Gopal Baglay, BOI Director General Renuka M. Weerakone and other distinguished dignitaries.