Telangana was able to convince Ashirvad Pipes of the Aliaxis Group to spend Rs 500 crore in a greenfield plant in the state, continuing its successful streak of attracting big-ticket investments.
Plastic heaps, fittings, and accessories for storage and distribution will be manufactured by the company.
On the margins of the World Economic Forum in Davos, Aliaxis CFO Koen Sticker met with Industries Minister KT Rama Rao and made the news. Over 500 employment would be created in Telangana as a result of this investment.
In this regard, the Telangana government inked an MOU with Aliaxis, a global leader in sophisticated pipe systems for construction, infrastructure, industrial, and agricultural applications.
Ashirvad Pipes is also in negotiations with Telangana about establishing a Manufacturing Center of Excellence.
