HYDERABAD: Telangana bagged yet another major investment on Wednesday with global home textiles leader Welspun India Limited announcing an investment of up to Rs 5,000 crore to establish its industrial units across sectors in the state. It will also set up an IT/ITeS centre in Chandanvelly. This will be in addition to the Rs 2,000 crore spent to establish the group’s state-of-the-art textile facility at Chandanvelly in Ranga Reddy district.
The announcement was made by Balkrishan Goenka, chairman of the company, in the presence of industries and textiles minister K.T. Rama Rao, immediately after Rao inaugurated Welspun's advanced textile facility in Chandanvelly on the city outskirts.
This facility is Welspun’s second investment in the same vicinity after the flooring facility valued at Rs 1,500 crore two years back.
The plant will manufacture spun-lace, which is used in products like hygiene
application, family care and those used in one’s daily lives. Rao assured complete support to the company for the expansion of its operations in Telangana.
"With the advent of Welspun Group and other industrial giants, Chandanvelley
and Sitarampur region will soon become the largest industrial hub in
Telangana," he Rao said.
In response to Goenka’s plea, Rao assured to undertake expansion of the road
from Shamshabad airport to Chandanvelly into a four-lane road. He said that the government would work out an action plan involving farmers for packaging and branding of top grade cotton produced in the state.
Rao said that Welspun's decision will strengthen Telangana government's goal of expanding IT to tier 2 and 3 cities. With the establishment of Welspun IT centre, the desire of the locals to have IT companies in their region will also be fulfilled while up to 1,200 local youth will get to land up IT jobs, he added.
