Greenlab and Dana Al Alami Sign $120m Lab Grown Deal
October 29, 23
(IDEX Online) - India's Greenlab Diamonds has signed a $120m deal to manufacture lab growns for Saudi Arabia's Dana Al Alami Jewelry.
Greenlab has four factories in Surat producing 200,000 carats of lab growns a month. It also the company that grew the 7.5-carat diamond that India's prime minister Narendra Modi presented to US First Lady Jill Biden Prime during a state visit in June.
Dana Al Alami overcame numerous challenges in the male-dominated kingdom to build up the jewelry business that bears her name, and to succeed as precious stone broker and auctioneer.
She was chosen by Forbes magazine in 2019 and 2020 as one of Saudi Arabia's top five influential women.
Both companies signed a partnership agreement at the seventh edition of the Future Investment Initiative (FII7) in Riyadh last Thursday (27 October).
Pic courtesy FII7 shows the agreement being signed between Greenlab and Dana Al Alami Jewelry.