The FINANCIAL -- Russia's largest diamond miner Alrosa said on March 11 it planned to sign three-year contracts with three Indian companies on the delivery of uncut diamonds worth $490 million, according to RIA Novosti.

The deals are expected to be signed with Diamond India Ltd., Ratilal Becharlal & Sons, and Rosy Blue during a working visit by Russian Prime Minister Vladimir Putin to India on March 11-12, Alrosa said.

Alrosa accounts for 25% of the global diamond output. In 2009, the company produced diamonds worth $2.2 billion, with its sales equaling the same amount.

In 2010, the company expects its output to reach $2.31 billion in terms of value and diamond sales to hit $3.3 billion

The Russian government holds a controlling stake in Alrosa.

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