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Rajesh Exports to invest Rs. 500 crores

NEW DELHI: Rajesh Exports, the Rs. 3,000 crore gold jewellery exporter, on Wednesday announced an investment of up to Rs. 500 crores over the next three years in expansion including the acquisition of a gold mine abroad and a foray into branded jewellery. ``Our future plan is to become a fully integrated jewellery company and this will require both backward and forward integration in terms of acquiring gold mine and getting into diamond jewellery and retail business,'' Rajesh Mehta, Chairman of Rajesh Exports, told PTI. ``We are in advance stage of discussions to acquire gold mine either in Australia or South Africa. For this, the company has earmarked an investment of Rs. 150 crores.''

PTI

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