Friday, June 14, 2024

Rajesh Exports Signs Agreement With Centre & Karnataka For 5GWh Lithium Cells Factory

Rajesh Exports Ltd. (BSE: 531500, NSE: RAJESHEXPO) The foray of Rajesh Exports Limited into advanced technology energy solutions business gained critical momentum upon execution of a Tripartite Agreement between The Ministry of Heavy Industries (Government Of India), Department of Industries and Commerce (Government of Karnataka) and ACC Energy Storage  Pvt Ltd.  
 
Rajesh Exports Limited has been selected by the Government of India as one among the three successful participants in the Rs. 18,100 Crores PLI Scheme for production of Advanced Chemistry Cells. As per the requirement of the PLI Scheme Rajesh Exports Limited has incorporated a 100% Subsidiary in the name of ACC Energy Storage Pvt Ltd, for execution of the project for manufacture of Advanced Chemistry Lithium Ion Cells for manufacture of Lithium Ion Batteries.   
 
The Tripartite Agreement has been executed wherein the Ministry of Heavy Industries, 
Government of India has assured of all the required support for setting up of 5 GWhr Giga Factory. The Department of Industries and Commerce, Government of Karnataka has also assured all the required support and tailor made incentive package for setting up the Giga Factory and ACC Energy Storage has undertaken to execute the project within the required time limit.   

Mr Rajesh Mehta, Chairman, Rajesh Exports Ltd. said, “While leading the Global Gold business, REL is foraying into advanced technology solutions for energy storage with an aim to provide clean and green energy to the World. REL would be taking all the required steps to emerge as a leading global player in advanced technology solutions for energy storage”  
     
Rajesh Exports Ltd is a zero debt company on standalone basis with annual sales of Rs 2431 billion (Approx. USD 33 Billion) on a consolidated basis for FY 21-22. The Company emerged as the single largest constituent of gold business in the world. Rajesh Exports processes about 35% of gold produced in the world. Rajesh Exports is the only Company with presence across the value chain of gold from mining till its own retail brand. 

The Company is the largest refiner of gold in the world. With the acquisition of Valcambi, the world’s largest gold refinery at Switzerland, Rajesh Exports has built up a total capacity to refine 2,400 tons of precious metals per annum. Valcambi is a LBMA accredited refinery, the gold bars produced at Valcambi are good delivery bars, accepted across all the precious metal exchanges of the world and by all the Bullion banks.  
 
Rajesh Exports Ltd. is the largest Manufacturer of gold products in the world. Across its various manufacturing facilities Rajesh Exports has a total installed capacity to manufacture 400 tons of world class gold products per annum including the finest plain and studded jewellery, medallions and coins. Rajesh Exports has set up the world’s finest R&D facilities in Switzerland and in India for developing new designs and for evolving innovative manufacturing process for manufacture of world class gold products. 
 
The Company exports its products to various countries around the world and also supplies its products to bullion banks, central banks wholesale jewellery trade and retail jewellery trade. 
 
Rajesh Exports has set up 82 retail jewellery showrooms under the brand name of SHUBH Jewellers. SHUBH Jewellers is one of the most trusted household jewellery brand names in South India and is known for quality, designs and value for money prices of its products.

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