A Belgian regional authority will invest EUR 2 million ($2.3 million) in a production facility for industrial synthetics.

The financial input from the government of Flanders will help India-based Heyaru Engineering launch the lab-grown-diamond factory — its first in Europe — in the city of Lommel. Heyaru will invest about EUR 24 million ($27.5 million) in the project. The hub will boost the local economy by promoting innovation and creating employment opportunities, the government said.

Heyaru’s investment not only brings new jobs, the company also wants to contribute to the development of a Flemish ‘knowledge cluster’ on synthetic diamonds,” said Philippe Muyters, the Flemish minister for economy and innovation.

The Antwerp World Diamond Centre (AWDC) welcomed the move, adding that the facility would mainly produce diamonds for industrial and technical uses. The move to Antwerp makes sense, AWDC noted, as the city already specializes in cutting synthetic diamonds for high-tech industries.