The Israel Diamond Exchange (IDE)is mulling over setting up a diamond manufacturing unit in its IDE complex at the Maccabi building. The new factory will be manufacturing diamonds from 10 carats and above. The decision was made by the IDE management and members at a recent meeting.
The new factory is seen as a real asset to the organization as it will allowdiamantaires to personally check on polishing work. According to IDE president ShmuelSchnitzer, the factory’s location will work in favor of the organization. The IDE president also said that by setting up the factory, they also wanted to emphasize on manufacturing, without which there cannot be any trading center. Schnitzer also thanked YoramDvash, IDE Industry Committee Chairman in helping make the factory a reality.
The idea to set up such a factory has been on the pipeline for several years, said KobiKorn, the president of Israel Diamond Manufacturers Association.He said thatpolishing large diamonds that are worth hundreds of dollars need a highly supervised and secured setup. The proposed factory won’t be in the sealed IDE complex, but there will be a hermetic passageway to it from the IDE, he added.
ShmuelMordechai, the diamond controller said that the factory will be a blessing to the domestic diamond sector.