HYDERABAD: Telangana has attracted another major investment at the ongoing World Economic Forum (WEF) in Davos. The latest to join the list of global companies to invest in the State is Ashirvad Pipes of Aliaxis.
As per an MoU signed between Aliaxis and Government of Telangana, in the presence of IT & Industries Minister KT Rama Rao on Tuesday, the world’s largest manufacturer of plastic pipes for construction and industry will set up a greenfield facility with an investment of Rs 500 crore and it will also create 500 jobs.
The deal is inked after Aliaxis CFO Koen Sticker met Rama Rao on the sidelines of WEF. Ashirvad Pipes is also in talks with the State government to set up a Centre of Excellence for Manufacturing in the State.