Ukraine's State Property Fund is studying the possibility of setting up a diamond-cutting joint venture based on the state owned Vinnitsiya Plant Kristall and Kristall of Smolensk, with the country’s Industrial Policy Ministry endorsed the creation of a joint venture imminently, TACY LTD reported.

Ukraine expects a 60 percent stake in the venture and will contribute the assets of the Vinnitsiya plant, which specializes in polishing small diamonds, while Russia would get a 40 percent stake in the venture.


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