ENA Sectors 2024-10-03 15:58:45 <p><span style="font-size:14px"><strong>Wardha, Oct 3 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The project aims to capitalise on the region's raw materials, power availability, and transportation infrastructure.</span></p> <p><span style="font-size:14px">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. </span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Principal Secretary of the Industrial Department Harshdeep Kamble and OFAB company officials were present at the signing ceremony.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39477 https://knnindia.co.in/news/newsdetails/sectors/maharashtra-signs-rs-750-crore-textile-investment-deal-for-wardha 2024-10-03 15:58:45 knnindia.co.in