Ashirvad Pipes to invest Rs 500 cr in TS

Hyderabad: Telangana is poised to get an investment of Rs 500 crore as Ashirvad Pipes of Aliaxis has signed an MoU with the Government of Telangana to set up a greenfield facility in the state. The MoU was signed between Aliaxis and the Government of Telangana in the presence of Industries Minister K T Rama Rao in Davos.

The firm will manufacture storage and distribution of plastic pipes, fittings and accessories. The announcement came after Aliaxis CFO Koen Sticker met KT Rama Rao on the sidelines of WEF in Davos.

Ashirvad Pipes is also in talks with the Government of Telangana for setting up a Centre of Excellence for Manufacturing in the State.