Welspun Corp Limited has announced that its wholly owned subsidiary Sintex BAPL has finalised an investment of upto ~Rs 807 crore to set up manufacturing unit in the state of Telangana through a wholly owned step down subsidiary, Sintex Advance Plastics Limited (SAPL), which will be spread over the next three financial years starting from FY25. The project will be funded through a combination of debt and equity. The proposed investment is for manufacturing ~59 KMTPA of plastic pipes, ~5,300 MTPA of water storage tanks and ~8,900 MTPA sandwich moulded tanks. The pipes and fittings would include CPVC, UPVC, HDPE, and OPVC pipes and shall cater to the exponentially growing water distribution segment. This is in sync with our stated plan at the time of acquisition of Sintex BAPL itself to leverage the brand and enter into different types of Plastic Pipes segment. Plastic Pipes market in India is likely to grow at a CAGR of 10-12% to reach to a market size of ~Rs 60,000 crore in next five ...