24 November 2012

Tanzania: Tanzanite Processing Plant Seen As 'Dream Come True'

Arusha now to become largest producer and exporter world wide

A global and local leading gemstone companies are devoting multi-million-dollars to the establishment of a gemstone processing plant in Arusha.

The Diamonds International and Signature Gems of Arusha are behind the joint venture which could go down in history as one of the largest and ambitious plants in East Africa.

Diamonds International, the largest jewelry retailer with 140 locations in America, Mexico, Caribbean and other part of the world, specializes in manufacturing and selling jewels around the world, while Signature Gems is the leading local Tanzanite gemstone dealer and supplier.

The CEO and Chairman of Diamonds International, who purchases 70 percent of Tanzanite production in the world, billionaire Morris Gad and Signature Gems Managing Director, Sailesh Pandit are currently putting up the state-of-the-art Tanzanite gemstone processing plant at the outskirt of Arusha City.

Under a1000 square meter building opposite Pepsi Cola along the Njiro road, nearly 6km East-south of Arusha city, the factory, is anticipated to turn Arusha into the largest gemstone producer and exporter in the World in the near future.

Jacob Hassid, Managing Director of Diamonds International says the plant, which resulted from Gad's last month annual trip to Tanzania, is expected to be operational in a month and create decent employment to nearly 200, people, mostly women.

"We are very comfortable and confident in few weeks we will employ 200 people mainly women to start with and train them how to cut and polish rough Tanzanite for export market," Hassid told a press conference in Arusha.

Reading the message of billionaire Gad before the journalist, the company's general counsel, Elchonon Shagalov said the most prominent memory he has about Tanzania's journey was the graciousness and kindness of the people.

"I was very impressed how we were welcomed into their country with warmth and open arms" tycoon Gad said in his written message.

He added: "My motto has always been, when someone does well to you, reciprocate that goodness".

Gad said that his mission has been to establish economic growth to the Tanzanian people and now the creation of the gemstone manufacturing plant was a dream come true.

The women would be employed to create a unique Tanzanite jewelry line for sale in Diamonds International locations.

"This project is to enable Tanzania to become more prosperous and help these beautiful people obtain their goals. I look forward to working together and I have hopes that this project will be a complete success," Gad concluded.

Managing Director of Signature Gems, Sailesh Pandit said the joint venture factory was one of their efforts to back the government drive to make Tanzanite gemstone contribute immensely in economic growth.

"I am very grateful to my partner, Morris Gad for walking his promise made last month that he would come back and invest heavily in the country to create employment and stimulate economic growth" Pandit explained.

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