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Diamond Center, One of Largest in the World. Dedicated in Israel

A five-story steel and glass building to serve as Israel’s new diamond center–one of the largest in the world–was dedicated here today. The new structure will house diamond cutting and polishing plants with the most modern equipment, banking, postal and diamond control services as well as the country’s diamond exchange.

Israel, whose rapidly growing diamond industry is second only to that of Belgium, exported during the first five months of this year, a total of 71,000,000 pounds ($40,000,000) worth of gems–a 35 percent increase over the amount exported during the same period last year.