Suashish Diamonds plans unit in Botswana

Suashish Diamonds (SDL), the $200 million diamond processing and exports group, is to start diamond training institute in Botswana - the largest supplier of diamonds in the world in value terms - early next month.

Besides, SDL is also planning to set up a diamond processing unit there and has already obtained licence from the Botswana government.

"The diamond processing units are still on paper for which we are working hard to turn it into reality," Siddharth Kedia, general manager (marketing) SDL, said. He refused to divulge the amount being invested on both projects in Botswana.

In collaboration with local partners, SDL has plans to open 30 retail outlets in the Middle East mainly in Dubai and Saudi Arabia in the next three months. Selling its jewellery under the brand name Ishi's, SDL is running about 100 outlets in India in a joint venture with local retail
bigwigs.

"Dubai being the most potential region in the Middle East and Saudi Arabia seconds that, tthe group chairman is presently exploring the possibilities their. Negotiations are on with local partners and final decision would be reached in a month," Kedia added.

SDL has announced a capex of $1 million in the next five years which includes setting up a gold jewellery unit at its existing premises in Mumbai.