| Welspun Corp announced that its wholly owned subsidiary Sintex–BAPL has finalised an investment of upto ~Rs.2,355 crore to set up manufacturing unit(s) in the states of Telangana, Odisha, Madhya
Pradesh and Jammu & Kashmir through its wholly owned step down subsidiary, Sintex Advance (SAPL).
The investment will be spread over the next two financial years starting from FY25 to FY26 and the projects will be funded through a
combination of debt and equity.
The proposed investment is for manufacturing Plastic Pipes and Water Storage with a total capacity of ~200,000 MT and shall cater to the exponentially growing water storage and distribution segment.
The company said, "As mentioned earlier, this is in sync with our stated plan at the time of acquisition of Sintex –BAPL Limited itself to leverage the brand and enter into different types of Plastic Pipes
segment. The market size of Plastic Pipes used for buildings and infrastructure in India is likely to reach to ~Rs 65,000 crore in 2030. Thus, it provides a huge opportunity to Sintex to leverage its brand value, optimise its distribution channel and rationalise its logistics cost, thereby charting out a strong growth outlook and further strengthening our position into the B2C segment." |