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Welspun plans Rs 5,000cr investment in Telangana
Industries Minister KT Rama Rao takes part in ground-breaking ceremony of group’s Sintex plant
The progressive policies and world class infrastructure offered by the State government have encouraged Welspun World to set up new facility in the State. We are committed to growth of Telangana and will continue to provide support to industries to expand in the State
- Telangana Industries Minister KT Rama Rao
Diversified conglomerate Welspun Group on Thursday announced that it would invest Rs 5,000 crore in Telangana for setting up a logistics park and an ITeS facility which will create 50,000 direct and indirect jobs.
“We value our partnership with Telangana government and as a group we have been running our operations in the State successfully over the years.
This project will create further employment in the State,”Welspun World Chairman B K Goenka, said after the ground-breaking ceremony of new manufacturing unit of Sintex BAPL Ltd, a wholly owned subsidiary of Welspun Corp Ltd, here. Telangana Industries Minister KT Rama Rao was the chief guest at the ceremony.
Sintex BAPL Ltd signed a memorandum of understanding (MoU) withTelangana government to set up the manufacturing unit at Chandanvelly in Rangareddy district with an investment of Rs 350 crore.
The plant, which will be manufacturing water tanks and pipes, will create 1,000 jobs in Telangana region. Along with growing its market reach in water tanks segment, Sintex, a national iconic brand, plans to make its foray into pipes business through this project, which will have a mix of different types of PVC pipes and fittings. The total investment will be spread over the next three financial years.
B K Goenka further said Sintex is an iconic brand for its water tanks and foray into PVC pipes segment will strengthen its presence into the building material verticals further.
