Telangana bags Rs 350cr investment, Sintex to set up manufacturing plant
DECCAN CHRONICLE | DC Correspondent
Hyderabad: The state bagged yet another major investment in the manufacturing sector. Sintex, which is a part of Welspun Group, on Saturday announced an investment of Rs 350 crore to set up its manufacturing plant in Chandavelly in Rangareddy district.
Industries minister K.T.Rama Rao and Welspun Group chairman B.K. Goenka will lay the foundation stone for the plant on September 28. The unit will manufacture tanks, pipes, auto components, and ancillaries.
In a media statement, Rama Rao said that the state government welcomed the company’s decision to expand its operations. He thanked the leadership of Sintex for deciding to invest in Telangana and stated that the progressive policies and world-class infrastructure being offered by the government had encouraged the company to set up its units in the state.
The minister said that the state government would provide complete support to the existing companies who plan to expand their operations. Goenka stated that the company was running operations successfully in the state. He also added that the investment-friendly policies of Telangana government have encouraged them to expand operations in Telangana.