Rajesh Exports bags new order worth Rs 942 crore from Germany

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Rajesh Exports, the world's largest manufacturer of gold products, said on Wednesday that it has bagged an order worth Rs 942 crore to supply a designer range of jewellery from Germany.

The contract is to be completed by August 2019, it said in a statement. The company will execute the order from its own manufacturing facility which has a processing capacity of 250 tonnes of jewellery and gold products per year.

"The hard work of the company's designers and manufacturing personnel has paid rich dividends in the international markets," said Chairman Rajesh Mehta.

He said the company will execute the order within the time frame by leveraging its expertise, skilled craftsmen, artisans and strong backward integrated infrastructure.

With annual sales of Rs 1.75 lakh crore (or 25 billion dollars), Rajesh Exports processes 35 per cent of gold produced in the world. It is the only company with a presence across the value chain of gold -- from mining till its own retail brand.

After its recent acquisition of Valcambi, the world's largest gold refinery in Switzerland, Rajesh Exports has built up a total capacity to refine 2,400 tonnes of precious metals per annum.