Rajesh Exports bags Rs 1,170 crore order from UAE for gold, diamond-studded jewellery

New Delhi: Bangalore-based firm Rajesh Exports Limited (REL), the world's largest gold jewellery maker, has received an export order worth Rs 1,170 crore (US$ 179.24 million) from UAE-based Al Malek Jewellery for gold and diamond-studded jewellery and medallions. The order is expected to be completed by October 2015. The order indicates growing demand for Indian jewellery in foreign markets. REL has gold jewellery manufacturing facility at Bangalore, spread over 12 acres of land, with a capacity to process 250 tonnes of gold into jewellery. REL has recently acquired Swiss-based gold refinery Valcambi for US$ 400 million to gain access to raw materials at lower prices. Locally, REL sells jewellery under the brand 'Shubh Jewellers' through its 83 showrooms.

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