aliaxis: Aliaxis group to take a position Rs 500 crore in Hyderabad unit | Hyderabad Information


HYDERABAD: A day after Lulu Group dedicated an funding of Rs500 crore in establishing an export-oriented meals processing facility in Telangana, Brussels-based Aliaxis has now introduced plans to take a position Rs 500 crore in establishing a greenfield facility to make plastic pipes, fittings and equipment in Telangana.
The Aliaxis funding shall be made by its group firm Ashirvad Pipes, a Bengaluru-based water administration options supplier that the European main acquired in 2018.
In accordance with sources, the ability is slated to return up on Hyderabad’s outskirts at Chandanvelly.
The proposed greenfield unit will create over 500 jobs for Telangana’s youth, Telangana industries minister KT Rama Rao’s workplace stated on Tuesday.
The Telangana authorities additionally inked an MoU with Aliaxis group on day two of the World Financial Discussion board at Davos on Tuesday within the presence of KTR after the minister met Aliaxis CFO Koen Sticker on the sidelines of WEF.
Ashirvad Pipes can be in talks with the Telangana authorities for establishing a Heart of Excellence for manufacturing within the state, KTR’s workplace stated.
Aliaxis had acquired a 60% stake in Ashirvad Pipes in 2013 after which gone on to amass full possession of the corporate in 2018.


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