Welspun's wholly owned subsidiary Sintex BAPL will be investing upto Rs 807 crore for establishing a manufacturing unit in Telangana through a step down subsidiary, Sintext Advance Plastics Limited (SAPL).

The investment will be spread over the next three financial years starting FY25. The project will be funded through a combination of debt and equity.

The company said,"The proposed investment is for manufacturing 59 KMTPA of plastic pipes, 5,300 MTPA of water storage tanks and 8,900 MTPA of 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, the company said in a statement."

Welspun Group Chairman BK Goenka said, "Sintex is an iconic brand for its water storage tanks and plastic pipes will strengthen our presence in the building material vertical further and provide significant value creation for our stakeholders. As a group, we are already running our operations in the state. This project will create further employment in the state."

Sintex BAPL had entered into a contract with the Telangana government in September to set up a manufacturing unit in the state with up to Rs 350-crore investment.