Welspun to Invest Rs 5,000 Crore in Telangana - Creating 50,000 Jobs
Welspun on thursday announced intentions to spend over Rs 5,000 crore in telangana over the course of five years in several categories, including a logistics park and an IT and ITES cluster. Welspun World chairman B.K. Goenka stated that this will result in around 50,000 employment, including 20,000 directly and 30,000 indirectly.
He stated Welsun has established a good relationship with telangana when breaking ground for the Sintex manufacturing facility at Chandanvelly, close to Hyderabad. Originally, it had intended to establish a Welspun facility in Gujarat, but industries Minister K.T. Rama Rao persuaded him to move it to Telangana. Since that time, Welspun has made telangana its preferred location, according to Goenka.
He stated Welsun has established a good relationship with telangana when breaking ground for the Sintex manufacturing facility at Chandanvelly, close to Hyderabad. Originally, it had intended to establish a Welspun facility in Gujarat, but industries Minister K.T. Rama Rao persuaded him to move it to Telangana. Since that time, Welspun has made telangana its preferred location, according to Goenka.
According to Goenka, the state's infrastructure, availability of personnel, and business-friendly atmosphere were the primary draws for the organisation. Despite considering Karnataka, Sintex, a fully owned subsidiary of Welspun Corp., chose telangana due to the conducive environment. Goenka stated that the envisaged IT cluster will function as a form of backoffice or shared office for Welspun. Since there are several engineering institutions in the state and the property is close to an airport, the personnel needs may be satisfied. Although there are already 500 people employed, he claimed that number will rise. He predicted that the Welspun logistics park will be built in two to three years.
In order to establish a manufacturing facility with a 350 crore rupee investment, Sintex and the state government signed a memorandum of understanding. This will be Sintex's primary manufacturing facility, producing products including adhesives, water tanks, and pipes. In the telangana area, the facility would generate 1,000 new employment. Goenka predicted that the unit would be finished in roughly nine months and invited Rama Rao to dedicate the space. Rama Rao, who lay the cornerstone for the Sintex complex, responded to this request by saying, "We will hold elections in approximately two months. We'll triumph, and I'll return for the inauguration," he assured.
In order to establish a manufacturing facility with a 350 crore rupee investment, Sintex and the state government signed a memorandum of understanding. This will be Sintex's primary manufacturing facility, producing products including adhesives, water tanks, and pipes. In the telangana area, the facility would generate 1,000 new employment. Goenka predicted that the unit would be finished in roughly nine months and invited Rama Rao to dedicate the space. Rama Rao, who lay the cornerstone for the Sintex complex, responded to this request by saying, "We will hold elections in approximately two months. We'll triumph, and I'll return for the inauguration," he assured.