Kiran Gems Renews Contract with ALROSA

Kiran Gems Pvt. Ltd. has renewed its long-term contract with Russian miner ALROSA (MCX:ALNU). The two companies signed the supply agreement at the World Diamond Conference held in Delhi.

As quoted in the press release:

Kiran Gems manufactured 5.3 million carats of rough in the past year, which was sourced from various major miners of the world including ALROSA. The company has increased its manufacturing levels in the current fiscal year based on demands from its customers. Kiran Gems is also the single largest user of advanced manufacturing equipment across its all manufacturing units, spread across 1 million square feet of space in Surat and Ahmedabad. The renewed contract with increased supply levels from ALROSA would further streamline its sourcing.

Dinesh Lakhani, director of Kiran Gems, stated:

We are happy to renew the contract with ALROSA. Being a manufacturer of the largest volume, consistent and ethical sourcing is core to us and ALROSA is a great sourcing partner.

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