Yakutia-based diamond producer ALROSA has announced plans to sell 102.3 million carats of diamonds by the end of 2012.

The firm reportedly plans $9.5bn sales over the given period.

ALROSA has also unveiled $825m worth of plans for new underground pit construction.

By 2013 the company reportedly forecasts a net profit of $737m.

Last year, ALROSA’s net profit came in at $78.3m following a net loss of $1+bn in 2008, the firm said.