Welspun Corp Limited’s subsidiary, Sintex-BAPL Limited, is set to make a significant investment of up to Rs 2355 crore to establish manufacturing units in Odisha and 3 other states. This investment, spread over the next two financial years starting from FY25 to FY26, underscores Welspun’s commitment to expanding its presence in the state’s manufacturing landscape.
The proposed investment aims to set up manufacturing facilities for plastic pipes and water storage, with a total capacity of approximately 200,000 MT. This strategic move aligns with the growing demand in the water storage and distribution segment, reflecting Welspun’s forward-looking approach to cater to evolving market needs.
As part of its expansion strategy, Welspun Corp Limited seeks to leverage the brand equity and expertise of Sintex-BAPL Limited, acquired earlier, to diversify into different segments of the plastic pipes market. The company aims to capitalize on the burgeoning market opportunities in India, where the market size of plastic pipes used for buildings and infrastructure is projected to reach approximately Rs 65,000 crore by 2030.
Mr.BK Goenka, Chairman of Welspun Group, expressed confidence in the strategic direction, stating, “I am glad to share that on the first anniversary of our acquisition of Sintex BAPL, we have finalized the next phase of growth for Sintex. Over the past 50 years, Sintex has been at the forefront in providing water solutions.”
The expansion into Odisha represents a pivotal step in Welspun’s growth trajectory, as it underscores the company’s commitment to innovation, sustainability, and creating value for stakeholders. By venturing into new product segments in strategic locations like Odisha, Welspun aims to enhance its brand equity and strengthen its position in the burgeoning B2C market.
The recent signing of a framework agreement with Rollepaal Pipe Extrusion Technology B.V. further underscores Welspun’s dedication to leveraging superior technology to drive growth and competitiveness. With this strategic move, Welspun Corp Limited is poised to create substantial value for its stakeholders while contributing to Odisha’s economic development and industrial growth.
amfnews