Rajesh Exports bags order worth Rs 1,079 cr from Middle East

Gold refiner Rajesh Exports Thursday said the company has secured a new export order worth Rs 1,079 crore from Middle East.

The order is to be completed by June, the company said in a regulatory filing.

The company will manufacture the entire requirement of this order at its own manufacturing facility and is confident of delivering the required order within the time frame, it added.

The company further noted the order has its special significance for the acceptance of the new range of jewellery introduced by the company in the global markets and expects further significant orders for this range of jewellery from the international markets.

"Bagging a large order amid strong global competition speaks volumes about the designing, R&D capabilities, products, prompt execution and attractive pricing of the company," Rajesh Exports Chairman Rajesh Mehta said.

The Bengaluru-headquartered company has global manufacturing and marketing network with distribution through exports, wholesale and directly to consumers by its own retail brand.

The company refines over 35 per cent of the world's gold. Its refineries are located in Uttarakhand and at Balerna in Switzerland. It has a capacity to refine 2,400 tonne of gold per annum.