Oman-based NRI plans $100m fruits unit in India
Nagpur (India), August 24, 2014
An Oman-based entrepreneur is in discussion with Indian authorities to start a $100 million organic fruit exports business in the Indian state of Maharashtra, said a report.
R H Parakh, who is the managing director of Saud Bahwan Group, will be investing $40 million in the project initially along with a group of investors in Oman, reported the Times of India.
The NRI businessman was speaking on the sidelines of the conference organized by 'The Indus Entrepreneurs' (TIE) a non-profit organization of businessmen, in the presence of the Transport and Shipping Minister Nitin Gadkari.
Parakh said the plan envisages floating a co-operative of cultivators who shall supply organic fruits to the company. The cooperative is likely to be set up in Nagpur.
The produce will be then flown by helicopters to be finally lifted by aircraft to be supplied in markets abroad. These fruits will be directly getting certification from US and European agencies at the point of production, he was quoted as saying in the report.
Speaking at the seminar, Gadkari called upon the businessmen present there to come up with ideas for rural development as he also held that ministry.