Russian diamond giant Alrosa announced it signed a three-year supply deal with the Indian diamond manufacturers Rosy Blue, Diamond India Ltd. and Ratilal Becharlal & Sons, amounting to a reported $490 million.

According to a company press release, the contracts stipulate that the range and prices of the rough diamonds supplied by Alrosa will be renegotiated on a quarterly basis, based on the current situation in the global diamond market. .



Alrosa's sales to Indian diamond manufacturers in 2009 came to $500 million.

The Russian diamond dealer said it sees a strategic importance to establishing direct, long-term relationships with diamond manufacturers and expanding geographic diversification of its trade.