A formal agreement has been signed between the Government of Telangana and Sintex BAPL, a fully owned subsidiary of Welspun Corp., to establish a manufacturing facility in the state. To this end, a memorandum of understanding (MoU) was signed. The unit, which is being established as part of Telangana’s incentive programme, will cost Rs 350 crore over the next three years to build, and it will produce 1000 jobs for the state.
Telangana’s plant will produce PVC pipes and water tanks. The business is expanding quickly in the market for water tanks and has plans to start producing pipes, including PV pipes and fittings. This will enable Welspun to establish a solid base in the market for building supplies.
The unit’s groundbreaking ceremony was held in front of a number of people, including BK Goenka, chairman of Welspun World, and KT Rama Rao, Telangana’s IT and Industries Minister.
For a while now, Telangana has been emphasizing job creation. The establishment of a few PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the textile industry had been announced by the Central government earlier this year. One of the seven states chosen for the purpose is Telangana. Tamil Nadu, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, and Uttar Pradesh make up the other six.
These parks are anticipated to create thousands of jobs. The Centre and state governments will work together under the PM MITRA Parks model to increase investment (up to Rs 70,000 crore), foster innovation, and generate employment as part of the process of making India a global hub for textile production and exports.