| Log in

Rajesh Exports Eyes Gold Refineries In Australia, South Africa

26 April, 2010

Rajesh Exports Ltd, one of India’s top jewellery makers and exporters, plans to open 300 retail stores in India over the next three years, and has lined up a capex of 30-40 billion rupees, a top official said.

The firm currently has 25 retail outlets countrywide.

“Within the next three years in India we are planning to open about 300 stores and by the end of this financial year we should be in a position to open 80-100 stores,” Rajesh Mehta, chairman and managing director, told Reuters in an interview on Monday.

Mehta also plans to expand retail operations overseas with showrooms in the Middle East, Far East, U.S. and parts of Europe including the U.K. and France.

The firm is also in advanced talks with Australian and South African firms to acquire gold refineries and mines, and is likely to close some deals over the next 3-4 months, he added.

Earlier in the day, Rajesh Exports told stock exchagnes its current order book stood at over 46 billion rupees.

At 2.55 p.m., shares of the firm were up 0.7 percent at 129.6 rupees in a firm Mumbai market.

View Comments
1 Comment
Hansel Maven . 6 years ago

I work for a private fund called Pacific Balanced Fund through Melanesian Trustee Services Ltd as its Consultant. The fund is small on the world mutual fund scale and owns equities in most of the blue chip companies here in Papua New Guinea.

The Fund also owns a Gold/Silver Refinery here in Port Moresby which it is looking for partners to invest into in terms of financing gold from the major mines here in Papua New Guinea. The major mines produce about 3million ounces of gold a year and about 2million ounce silver which currently being exported to Australian Gold Refineries. The PNG based refinery was once in the refining business when Rotchschild International was involved as a bullion financier and purchase and allowed the metal to be refined locally. The refinery is fully equipped has utilises the same refining tech as used by Australian Gold Refineries-Mathey JV.

I look forward to hearing from you.

Hansel Maven

Consultant-Pacific Balanced Fund

Melanesin Trustee Services Ltd

PO Bxo 847

Port Moresby 121

National Capital District

Papua New Guinea

Ph: 675 321 0560

Fx: 675 321 0563

Cell: 675 7620 8400

Rajesh Exports Eyes Gold Refineries In Australia, South Africa

Powered by WordPress.com VIP