Dali Diamond Co, an Antwerp-based diamond supplier, on Monday announced the opening of a diamond polishing plant in Namibia later this year.

The US$2,7 million (N$19,44 million) investment includes modern electronic and mechanical manufacturing equipment, as well as specialised training programmes for the local work force.

Dali said it would also invest in branding the origin of its Namibian diamonds.

The Dali factory will be fully operational by the end of 2007 and expects to employ about 150 workers by the end of the 2008.

Growth plans envisage the opportunity to create a workforce of 300, it said.

Dali, a supplier of watch and jewellery houses and high-profile retailers, has been a De Beers sightholder since 1969 and is a core client of Russian mining company Alrosa.