Maharashtra Signs Rs 750 Crore Textile Investment Deal For Wardha

Wardha, Oct 3 (KNN) The Maharashtra government has entered into a Memorandum of Understanding (MoU) with OFAB Tech Private Limited, securing a Rs 750 crore investment in the textile sector for Wardha district.

The agreement, signed at Deputy Chief Minister Devendra Fadnavis's official residence in Mumbai, is expected to create approximately 15,000 new jobs in the Karanja (Ghadge) MIDC area.

OFAB Tech, a B2B company with an annual turnover of Rs 25,000 crore, plans to establish a modern textile facility in Wardha, a district known for its associations with Mahatma Gandhi and Vinoba Bhave.

The project aims to capitalise on the region's raw materials, power availability, and transportation infrastructure.

Deputy Chief Minister Fadnavis highlighted the significance of the investment, stating, "This project will not only strengthen our textile sector but also serve as a foundation for comprehensive industrial growth in the region."

The initiative adopts a hub-and-spoke model, focusing on empowering local communities, particularly women artisans, in rural areas surrounding Wardha. It is designed to provide opportunities for both skilled and semi-skilled workers.

Principal Secretary of the Industrial Department Harshdeep Kamble and OFAB company officials were present at the signing ceremony.

Industry observers note that the selection of Wardha for this investment aligns with the government's efforts to promote balanced regional development, potentially establishing the district as a new textile hub in Maharashtra.

This development marks a significant step in the state's strategy to stimulate industrial growth in traditionally underdeveloped regions, with potential ripple effects throughout the Vidarbha area.

(KNN Bureau)