MUMBAI: Rajesh Exports BSE -4.96 %, which bought the world’s largest gold refinery for $400 million in July last year, is eyeing a $150-170-million (about Rs 1,009-1,145 crore at current exchange rate) acquisition in Dubai to expand its refining capacity and increase margins by sourcing cheaper raw material, two persons aware of the development told ET.
“The strategy is to acquire assets in the Middle East, US and Australia after having purchased Swiss-based Valcambi last July, to have a presence in Europe,” said one of the sources. “To this end, the company is planning to buy one of the Middle East’s largest refineries for $150-170 million, located in Dubai.”
