A Rs 108 crores integrated textile park is coming up in Vidarbha at Hinganghat in Wardha district. This is expected to generate at least 1,000 jobs and provide the much needed fillip to the cotton economy of the region.
Cotton is the main cash crop of Vidarbha. But the cotton belt is under distress due to the uncertainty over prices and the inability to process raw cotton up to the textile and garment stages to spur demand. For some reason textile units did not come up in the region, and the cotton produced here was transported to far off south India or western Maharashtra, while farmers growing it always got a raw deal.
Hinganghat Integrated Textile Park has an authorised share capital of Rs 180,000,000 with a paid up capital of Rs 59,500,000.
The plan is to set up 11 units in the integrated park spread over 32.63 acres. Of them one each will be for ginning, twisting/doubling, knitting, processing, fiber-yarn dyeing, garmenting, technical textiles and two each for spinning and weaving.
About 40 per cent funding (with a cap of Rs 40 crores) is provided by the Center and the state government’s share is nine per cent or Rs 9 crores maximum.