Sintex BAPL Ltd., a wholly owned subsidiary of Welspun Corp Ltd signed a memorandum of understanding (MoU) with the state government of Telangana to set up a manufacturing unit in the state with Rs. 350 crore investment. The project is being accomplished under the state government’s incentive scheme and will be manufacturing water tanks and pipes. The unit will create 1000 jobs in the Telangana region.
Along with growing its market reach in the 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.
Minister KT Rama Rao, B K Goenka, Chairman Welspun World performed the groundbreaking for the unit on Thursday in the presence of leaders, dignitaries and senior government officials of Telangana state.
Welspun has taken this strategic step to consolidate its position as the most prominent and trusted partner in the building material category and this new unit is a major step in the direction.
Speaking on the occasion, KTR said, “We are delighted with Welspun setting up this new facility. The progressive policies and world class infrastructure offered by the Govt of Telangana have encouraged Welspun World to set up a new facility in the state. We are committed to the growth of Telangana and will continue to provide support to industries to expand in the state.”
B K Goenka said, “We value our partnership with the government of Telangana 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. Sintex is an iconic brand for its water tanks and foray into PVC pipes segment will strengthen our presence into the building material verticals further.”