Tiffany to polish diamonds

Luxury jewellery brand Tiffany & Co is building a diamond-polishing factory in Phnom Penh, as the company, which has enjoyed increasing sales, seeks to ensure it can continue supplying the diamonds it needs. Construction began last month on the 1.2-hectare factory, along with a training centre, in the Phnom Penh Special Economic Zone (PPSEZ), said Sotheary Chap, business development manager of the Archetype Group, the architectural firm involved in construction. “Cambodia has no diamonds; the factory is just a platform” to process the diamonds, she said, declining to reveal construction costs or when operations would start. … Last year, Andrew Hart, senior vice-president of Tiffany & Co’s diamonds and gemstones division, met with Minister of Commerce Cham Prasidh to discuss possible investment opportunities in Cambodia. … Cambodia’s precious-stones industry, although small, is growing. The fifth Cambodia Gems and Jewellery Fair, in June, is expecting a 12 per cent increase in visitors and exhib-itors, according to a press release. …

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