As it has been reported by the press service of JSC ALROSA, on November 11, 2003, there will the ceremony of hydro electric power station starting take place in Angola. Now the delegation of JSC ALROSA, headed by the company’s president V. Kalitin, is visiting the country.

The ceremony will be attended by the representatives of Angola’s government, of the ministries and departments of the country, the partners of ALROSA in diamond business.

The construction works are estimated at $45mnl. The importance powers station is very important not only for ALROSA Company but for Angola as well.

In course of the visit there will be a meeting held between the president of ALROSA Company V. Kalitin and the president of Angola, the ministers of energy, geology and others.

JSC ALROSA is one of the world’s largest diamonds mining companies, its share in the market being 25%. In 2003 ALROSA plans to mine diamonds worth $1560 mln. The company’s largest shareholders are the Ministry of property of Russia (37%) and the Ministry of property of Yakutia (32%).

JSC ALROSA has 32,8% of Katoka project in Angola.