OFB Tech to invest $89.3 mn in textile unit in India's Maharashtra

03 Oct '24

1 min read

OFB Tech to invest $89.3 mn in textile unit in India's Maharashtra

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India's Maharashtra state government recently signed an MoU with OFB Tech Pvt Ltd for an investment of $89.3 million in the textile sector at Karanja (Ghadge) industrial area in Wardha district.
The project is expected to generate 15,000 jobs and will start at the earliest.
The MoU was signed in the presence of state deputy chief minister Devendra Fadnavis at his official residence in Mumbai.

India’s Maharashtra state government recently signed a memorandum of understanding (MoU) with OFB Tech Pvt Ltd for an investment of ₹750 crore ($89.3 million ) in the textile sector at Karanja (Ghadge) industrial area in Wardha district.

The proposed project is expected to generate 15,000 jobs and will start at the earliest with availability of raw materials, cheaper electricity supply, facilities for transport and availability of industrial plot at affordable rates.

The MoU was signed in the presence of state deputy chief minister Devendra Fadnavis at his official residence in Mumbai, media outlets in the state reported.

Business-to-business company OFB Tech has an annual turnover of ₹25,000 crore ($2.97 billion).

Fibre2Fashion News Desk (DS)

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