Latest News | Ashirvad Pipes to Set Up Greenfield Plant in Telangana

Hyderabad, May 24 (PTI): Aliaxis makers of Ashirvad Pipes will be setting up a greenfield facility with an investment of Rs 500 crore in Telangana, an official release said on Tuesday.

Also Read | Meta Launches Updated 3D Avatars on Facebook, Messenger & Instagram.

A Memorandum of Understanding was signed between Aliaxis and the Telangana government in the presence of Industries and IT Minister KT Rama Rao in Davos on the sidelines of World Economic Forum, it said.

Also Read | Realme C30 India Launch Expected Next Month, Specifications Leaked Online.

The firm will manufacture storage and distribution of plastic piles, fittings and accessories. The announcement came after Aliaxis Chief Financial Officer Koen Sticker met with the Telangana Minister on the sidelines of WEF, it said.

Ashirvad Pipes is also in talks with the state government for setting up a Centre of Excellence for Manufacturing Telangana, the release added.

"This investment will create over 500 jobs for youngsters in our state," the release further said.

Meanwhile, a separate press release said Rama Rao met with Sunil Bharti Mittal, Chairman and Rajan Bharti Mittal, Vice Chairman of Bharti Enterprises (Airtel), and discussed cooperation and collaboration on the state government's initiative T-Fiber, connecting rural and urban households with broadband. The Minister invited Airtel to set up their data centers in Telangana.

Rama Rao also met with Vasant Narasimhan, Chief Executive Officer, Novartis on the sidelines of WEF to discuss the growth witnessed by the pharma major in Telangana and their expansion plans.

The minister noted that with nearly 9,000 associates, Novartis Hyderabad grows into second largest locations for the company, after their headquarters in Basel, based on the headcount. Further, Novartis Capability Center in Hyderabad is the largest such capability center by a global pharma major in India, another press release said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)