Thank you, Mr. Speaker. Mr. Speaker, I would like to read a news release that I received from George Burns who is a director of De Beers in London.
Endiama and De Beers are pleased to announce the formal signing of an agreement to develop a 12-storey building in Angola on land leased from Endiama which adjoins Endiama's existing offices in the central business district of Luanda. The building will be owned by De Beers and will house a purpose built and secure diamond sorting facility where Angolan diamond production will be sorted and valued. Endiama, the Angolan national diamond company, will be the owner of three floors in the new building.
This building will incorporate the latest technology required for the efficient and secure handling of rough diamonds. The building will house facilities for training Angolans in the key skills of sorting and valuing rough diamonds. De Beers has built similar facilities in Botswana, Namibia and South Africa, and brings considerable experience to this type of development.
The building will cost approximately $30 million US to develop and equip. Locally based building contractors will be employed, and it is expected that hundreds of jobs will be created during the construction. Thank you, Mr. Speaker.