Hyderabad: Sintex BAPL Ltd., a subsidiary of Welspun Corp Ltd will be setting up a manufacturing unit for water tanks and PVC pipes in Telangana with an investment of Rs 350 crores.
Sintex, a Welspun World Company signed a memorandum of understanding (MoU) with the government of Telangana as the project is being accomplished under the state government’s incentive scheme.
The unit will create 1000 jobs in Telangana while the total investment will be spread over the next three financial years.
Telangana IT and industries minister KT Rama Rao broke the ground for the unit in the presence of the chairman of Welspun World, B K Goenka and other officials.
Along with growing its market reach in the water tanks segment, Sintex plans to make its foray into the pipes business through this project, which will have a mix of different types of PVC pipes and fittings.
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 that 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 government of Telangana have encouraged Welspun World to set up new facilities in the state.”
“We are committed to the growth of Telangana and will continue to provide support to industries to expand in the state,” the minister added.
BK Goenka said, “This project will create further employment in the state. Sintex is an iconic brand for its water tanks and foray into the PVC pipes segment will strengthen our presence into the building material verticals further.”