Welspun Corp Limited announced that its wholly owned subsidiary Sintex BAPL has signed a Memorandum of Understanding (MoU) with the Telangananana State Government to set up a manufacturing facility in the state with an investment of up to Rs. 35 crores. The proposed project falls under the incentive scheme of the state government and the water tanks and pipes of the plant will be manufactured in the state. With the expanding market for water tanks, the state’s leading brand Sintex plans to enter the piping business through the project, which is a mix of various types of PVC pipes and fittings. The total investment will be allocated over the next three years. The project design is at the initial stage and the initial investment in land and infrastructure is not more than Rs 500 crore in the current financial year (FY 2024). More details on this will be shared soon. Commenting on the development project, .K. Geyinka, Chairman, Welspun B Group, said: ‘As a group, we are ...