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Ashirvad Pipes by Aliaxis will set up a Greenfield facility with an investment of ₹500 crore in Telangana to manufacture storage and distribution of plastic piles, fittings and accessories.
Representatives of the Belgium company have signed a memorandum of understanding with the Telangana Government officials at Davos (Switzerland) on Tuesday. The new facility is expected to create 500 jobs.
The announcement came after Aliaxis Chief Financial Officer Koen Sticker held discussions with Telangana IT and Industries Minister K T Rama Rao on the sidelines of the World Economic Forum.
Novartis presence in Hyderabad
The Minister also met Vasant Narasimhan, Chief Executive Officer of the Swiss pharma major Novartis to discuss the company’s expansion plans in Telangana.
The company has about 9,000 employees in Hyderabad, emerging as the second largest location for the company.
The minister Bharti Enterprises Chairman Sunil Bharti Mittal and Vice-Chairman Rajan Bharti Mittal and discussed possibilities for cooperation in rolling out the T-Fiber project (Internet connection to every household in the State).
He asked the telecom major to set up their data centre in Hyderabad.
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