Welspun Corp’s Sintex to Make in Telangana: A Rs 350 Crore Powder Metallurgy Project

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Welspun Corp: Subsidiary Sintex signs MoU with Telangana to set up a manufacturing unit in the state with upto Rs 350 crore investment

Introduction

Welspun Corp, one of the leading manufacturers of large diameter pipes in the world, has announced that its subsidiary Sintex a/s has signed a memorandum of understanding (MoU) with the government of Telangana to set up a manufacturing unit in the state with an investment of upto Rs 350 crore. The MoU was signed on September 23, 2023, in the presence of the Chief Minister of Telangana and other dignitaries.

About Sintex a/s

Sintex a/s is a Danish company that specializes in powder metallurgy, a process of making metal parts from powdered metal using high pressure and heat. Sintex a/s produces components for various industries such as automotive, aerospace, medical, energy and industrial applications. Sintex a/s is a part of the Welspun Group, which acquired it in 2017.

Project Details

According to the MoU, Sintex a/s will establish its first manufacturing facility in India at the National Investment and Manufacturing Zone (NIMZ) in Zaheerabad, Sangareddy district of Telangana. The facility will have an annual production capacity of 10,000 metric tonnes of powder metallurgy components and will create direct employment for about 500 people and indirect employment for about 1,500 people. The project is expected to be completed within 18 months from the date of allotment of land.

Incentives and Support

The MoU also states that the government of Telangana will provide various incentives and support to Sintex a/s as per the Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS) Act, 2014. These include single window clearance, exemption from stamp duty and registration charges, reimbursement of GST for five years, power tariff subsidy for five years, interest subsidy for five years and skill development assistance.

Statements from Welspun Corp and Telangana Government

Mr. Rajesh Mandawewala, Managing Director of Welspun Corp, said that Welspun Corp is delighted to partner with the government of Telangana for setting up its subsidiary’s manufacturing unit in the state. He said that Sintex a/s has a strong global presence and expertise in powder metallurgy and that the new facility will cater to the growing demand for high-performance metal components in India and abroad. He also said that Welspun Corp is committed to contribute to the Make in India initiative and support the vision of self-reliant India.

Mr. K.T. Rama Rao, Minister for Industries and Commerce, IT, Municipal Administration and Urban Development, Government of Telangana, said that Telangana is happy to welcome Sintex a/s to the state and that the government will extend all possible support to make the project successful. He said that Telangana is emerging as a preferred destination for foreign investors due to its progressive policies, robust infrastructure, skilled workforce and ease of doing business. He also said that Telangana is focusing on developing new industrial clusters such as NIMZs, Pharma City, Textile Park and Aerospace Park to attract more investments and generate more employment opportunities.

Mr. K. Chandrashekar Rao, Chief Minister of Telangana, congratulated Welspun Corp and Sintex a/s for choosing Telangana as their investment destination and said that the state is ready to offer land, water, power and other facilities to any industry that wants to set up its base in the state. He said that Telangana is striving to become a role model for industrial development in the country and that the state is keen to collaborate with global companies like Welspun Corp and Sintex a/s to achieve this goal.

Conclusion

The MoU between Welspun Corp’s subsidiary Sintex a/s and the government of Telangana is a significant step towards enhancing the industrial growth and economic development of both the entities. It also reflects the confidence and trust that foreign investors have in Telangana as an ideal destination for setting up their manufacturing units. The new facility of Sintex a/s will not only create jobs and income for the local people but also add value to the products and services offered by Welspun Corp in the global market.

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