Indian jewellery giant Rajesh Exports Ltd., on Monday disclosed plans to put up gold refineries in Australia and South Africa as part of its business expansion this year. The company said it is expecting to close some deals over the next three to four months regarding the plan.

At the same time, the jewellery maker and exporter said it has also earmarked between 30 and 40 billion rupees to establish some 300 new retail shops across India in the next three years.

According to a top Rajesh official, the company has 25 existing retail outlets all over India at the moment. But it wants the number to grow significantly to establish its strong presence in the market.

Rajesh Mehta, chairman and managing director of Rajesh Exporters said the company seeks to put up at least 300 stores before the end and aims to have between 80 and 100 stores before the end of the current financial year.

Plans are also afoot to establish their presence in the Middle East, Far East, the U.S. and parts of Europe, including the UK and France by setting up retail operations and showrooms in those regions.

He added that the company is already finalizing talks with governments of Australia and South Africa as well as local companies in those countries, to acquire gold refineries and mines. Mehta said deals are expected to be completed within the next three or four months.