Sintex, a subsidiary of Welspun Corp, will set up water tank and PVC pipe facilities in Telangana

Under the proposed project, which Welspun Corp said is a part of the state government's incentive scheme, Sintex will manufacture water tanks and pipes.

Welspun Corp Limited announced in its stock exchange filing on September 25 that it is pleased to announce that its wholly-owned subsidiary, Sintex BAPL, has signed a Memorandum of Understanding (MOU) with the Telangana government to establish a manufacturing facility in the state with an investment of up to Rs 350 crore.

The overall investment will be spread over the next three financial years. The company mentioned that the project's design is in its initial stages, with the first-year investment limited to Rs 50 crore for land and infrastructure in the current financial year. Furthermore, it stated that more information regarding this project would be provided at a later date.

Under the proposed project, which Welspun Corp said is part of the state government's incentive scheme, Sintex will manufacture water tanks and pipes. It also mentioned that the project will include the manufacturing of various kinds of PVC pipes and fittings. Welspun further stated that Sintex also hopes to expand its market presence in the water tank sector.

Commenting on the development, Welspun Group Chairman, BK Goenka, said, “As a group, we have been operating in the state already, and this project will create further employment in the state. Sintex is an iconic brand for its water tanks, and foraying into the PVC pipes segment will strengthen our presence in the building material verticals further.