The $2.3 billion in revenues Welspun Group broke ground for a ₹350 crore Sintex water tank and PVC pipes manufacturing unit near Hyderabad on Thursday, and with it committed to ramping up investments in Telangana by setting up a logistics park and IT facility.
A logistics park as well as an IT and IT-enabled services facility will be set up with an investment of ₹5,000 crore over the next 5-7 years by Welspun, facilitating 50,000 direct and indirect jobs, Industries and IT Minister K.T. Rama Rao said, referring to his conversation earlier with Welspun World chairman B.K. Goenka, at the ground-breaking at Chandenvelly near Hyderabad.
Two Letters of Intent (LoI) between Welspun and the State government were signed — one is for providing employment avenues to the youth by setting up IT infrastructure in rural areas, and the other for establishing logistics facilities.
