Aavishkaar Venture Fund has acquired a 15% stake in Ahmedad-based social enterprise Nepra Resource Management Pvt. Ltd., which is involved with waste collection. The company expects a Rs.100 crore turnover from dry waste by 2016. It has planned a Rs.70 crore investment in the state and signed an MoU at the Vibrant Gujarat business summit earlier this month.
The investment will entail hiring 10,000 rag-pickers as suppliers for collection of waste and setting up a material recycling facility in Gujarat.
Source: Economic Times
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