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Article: ANGOLA: Construction plans for proposed $45,000,000 hydroelectric plant, ALROSA CO. LTD. [Russia] - Order #: 070104.
- Article from:
- WWP-Business Opportunities in Africa & the Middle East
- Article date:
- July 1, 2004
CopyrightCOPYRIGHT 2004 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
Russia-based ALROSA CO. LTD., a state-owned enterprise that employs a total staff of about 40,300 is considered to be Russia's largest diamond producer. The company is engaged in the exploration, mining, manufacture and sale of diamonds. It owns mines in Russia and also has a 33% interest in an Angolan mine. In so doing, the company reportedly produces some 25% of the world's diamonds.
As a result, ALROSA recently decided to build a new hydroelectric plant that will enable building the second section of the Catoca mining enterprise in Angola. Consequently, uncut diamond output is expected to be increased to $350,000,000 per year. ...