Hyderabad: Ashirvad Pipes of Aliaxis will invest Rs 500 crore in Telangana to build a greenfield facility. This investment will create over 500 jobs for youngsters in the state. A Memorandum of Understanding (MoU) was signed between Aliaxis and Govt. of Telangana in the presence of Industries minister KTR in Davos.
The firm will manufacture Storage & Distribution of Plastic Piles, Fittings & Accessories. The announcement came after Aliaxis CFO Koen Sticker met with KTR on the sidelines of WEF in Davos.
Ashirvad Pipes is also in talks with the Govt of Telangana for setting up a Center of Excellence for Manufacturing in the state. Industries Dept. Principal Secretary Jayesh Ranjan was also present at the meeting.