Nemesis International, a Dubai based diamond trading company, opened a  diamond polishing factory, Almas Diamond Services DMCC, in partnership with Sodiam E.P., the Angolan National Diamond Trading Company.

“With the new factory, Nemesis International can streamline the processes of high-value rough diamonds through facilitating cutting and polishing services locally,” a news release on the DMCC website stated. “With Dubai having become the world’s third largest diamond trading centre valued at over US$ 14 billion  in 2016, the facility will help in elevating the position of the UAE in the global diamond business.”

Further, the release stated, that the opening of the polishing facility “was a strategic decision made with the full support and backing of DMCC,”   the entity within which Nemesis International operates.

"Given the growing volume of Dubai’s diamond trading industry and its contribution to the country’s GDP, economic growth and stability, we are proud to inaugurate this state-of-the-art polishing and technology facility which will contribute to Dubai’s standing as a leading global diamond center on par with New York, Antwerp and Mumbai," said Konema Mwenenge, CEO of Nemesis International.

Ahmed Bin Sulayem, Executive Chairman of DMCC noted: "Our collaboration with Nemesis International brings a state-of-the-art diamond polishing factory with the latest in technology to Dubai, - and completes DMCC’s eco-system of services and infrastructure for the diamond industry at Almas Tower. To say that we are excited is an understatement as this can boost further trade into the Region, and provides the diamond industry with access to customs, vaulting, polishing, boiling, cutting, certification, transport and logistics services all under one roof.”

The first such facility to be set up in the UAE, it is seen as setting a precedent of sorts in the region.

 "Up until this point, there were no hi-tech polishing factories that could process high-value diamonds in significant volumes with a quick turnaround. Having invested upwards of 2 million USD in cutting-edge equipment, Almas Diamond Services expects to turn over approximately 150 carats of diamonds per month and up to 3,000 carats within the first two years, with six weeks being the average time to polish a stone, a first for Dubai and the Middle East region,” remarked  Filip Hendrickx, Manager of Almas Diamond Services. “Almas Diamond Services can now offer its customer a full  range of value-added services, from rough diamond boiling and evaluation services to state-of-the-art cutting and polishing.”

Mwenenge concluded: "Our ambition at Nemesis International is to bring more to the diamond and jewellery industry, working with some of the best mines and with our preferred partner high jewellery brand de GRISOGONO. Our shared vision is to align our best practices to create more value and provide transparency to the industry. The opening of this polishing factory in partnership with Sodiam and with the active support of DMCC, is a major step towards a vertical integration from the mine to final consumer and demonstrates our commitment as a firm not only to the industry, but towards Dubai’s global positioning."