Maharashtra Government, on Wednesday, signed a Memorandum of Understanding (MoU) with M/s OFB Tech Pvt Ltd for an investment of Rs 750 crore in textile sector at Karanja (Ghadge) industrial area in Wardha district. The MoU was signed in presence of Devendra Fadnavis, Deputy Chief Minister, at his official residence Meghdoot in Mumbai. Asish Mohapatra of OFB Tech Pvt Ltd, and Dr Harshdeep Kamble, Principal Secretary (Industries), exchanged the MoU. Virendra Singh, Secretary; Yogesh Mandani, Rajesh Chawde, Vikram Singh, Anurag Soni, and L L Soni were present prominently on this occasion. M/s OFB Tech Pvt Ltd is said to be the biggest ‘B2B’ (Business to Business) company of the country, with a turnover of Rs 25,000 crore.

 

Through MoU with Maharashtra Government, the company proposes to invest Rs 750 crore in Karanja (Ghadge) industrial area of Maharashtra Industries Development Corporation. The proposed investment is expected to generate 15,000 direct and indirect employment opportunities. The official press release quoted Fadnavis as saying, “The MoU is a big boost to economic development of the region with priority to local raw materials. The proposed investment aims at providing encouragement to women artisans through hub-and-spoke model in rural areas and also strengthening new industries in Wardha district.” The proposed project will start at the earliest with availability of raw materials, cheaper electricity supply, facilities for transport, availability of industrial plot at affordable rates, stated the press release. The project will give a boost to textile sector.