|
The said unit will manufacture CPVC, UPVC, SWR, agri pipes, PVC fittings and plastic tanks with annual capacity of 37,520 MT in Sambalpur, Odisha.
The project is likely to be implemented over the next three fiscal years and create employment opportunities for 1,000 people, stated the company.
The State Level Single Window Clearance Authority (SLSWCA), under the guidance of the chief secretary gave the nod to the abovementioned project proposal of Sintex BAPL.
Welspun Group chairman, B. K. Goenka said, “While, our entire focus in WST is on re energising retailers, distributors, plumbers and customers, our foray into PVC pipes segment will strengthen our presence into the building material verticals further.”
Welspun Corp is engaged in the business of production and coating of high grade submerged arc welded pipes, hot rolled steel plates and coils.
The company reported consolidated net profit of Rs 384.7 crore in Q2 FY24 as against a net loss of Rs 56.6 crore posted in Q2 FY23. Revenue from operations surged 106.71% to Rs 4,059.45 crore in Q2 FY24 as against 1,963.81 crore recorded in Q2 FY23.
The scrip rose 0.17% to currently trade at Rs 539.30 on the BSE.
|