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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10283)	12/24/1999 8:02:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Rajesh Exports sets up gold processing unit-To process 250 tonnes/year rajeshindia.com Eyeing a turnover of Rs 14,000 crore by 2010-2011, Rajesh Exports Ltd has set up a gold processing unit at Whitefield here with an outlay of Rs 40 crore. It will open a jewellery park with a total capacity of 250 tonne per annum next month. The Rs 110 crore company has an existing processing capacity of 4 tonne per year. Rajesh Exports Ltd chairman Rajesh Mehta has claimed the new facility, which would give employment to 7,000 people over a period of four years, is the largest in the world. Mehta told reporters that the company had met the expenses through internal resources. To achieve the target through exports and domestic sales of gold and diamond-studded jewellery, Rajesh Exports, which currently exports 21 and 22 carat, would sell 9, 12, 14 and 18 carat of gold in the coming months. Rajesh Exports is also setting up a research and development (R&D) centre at the new facility with an annual budget of Rs 15 lakh. The R&D centre would come out with new designs and new concepts in gold processing. ``We are planning to unveil `fusion design jewellery' that will link the domestic artisan's skills with international standards,' Mehta said. The company would kick off a brand-building campaign abroad shortly aimed at the departmental and chain stores. Marketing offices are also being planned in order to step up sales in countries like Singapore, the Middle East, US, UK and Australia. It would open whole-sales offices in every state and exclusive retail outlets in major cities after establishing its own brand name. The proposed whole-sale offices would offer quality gold to retailers, Mehta said. Meanwhile, Rajesh Global Solutions, the wholly-owned subsidiary of Rajesh Exports has shortlisted three domestic infotech firms for acquiring controlling stakes with an investment of Rs 6 crore. The company would announce the acquisitions next month. (FE)