Current Affairs - Places - Discussion

Union Ministry of Railways and Maharashtra State Government have signed a Memorandum of Understanding (MoU) to set up a rail coach factory at Latur, Maharashtra. The MoU was signed on the sidelines of the Magnetic Maharashtra event in Mumbai. The coach factory will be set up over a land area of 150 hectares and will entail investment of Rs. 500 crore in the first phase. This project is expected to generate thousands of direct and indirect employment opportunities in Marathwada, which is one of the most backward regions of Maharashtra.