Welspun Group completes Rs 2,000 crore investment, commits another Rs 3,000 to Rs 5,000 crore in Telangana

Minister @KTRBRS inaugurated Welspun India Limited's advanced textile facility in Chandanvelly, Rangareddy dist

With an investment of Rs.500 Cr this facility is @TheWelspunGroup’s 2nd investment in the same vicinity after setting up a flooring unit valued at Rs.1500 Cr 2 yrs ago pic.twitter.com/9k3l8ix9Qs

— KTR, Former Minister (@MinisterKTR) February 22, 2023

The facility, with an investment of Rs 500 crore, is Welspun’s second investment in the same vicinity after setting up a flooring facility valued at Rs 1,500 crore two years ago. Speaking at the event, the minister said that after Welspun started its anchor, others such as Microsoft, Amazon, Kitex, etc have also set up facilities here. With the presence of Welspun Group and other industrial giants, Chandanvelley and Sitharampur will soon become the largest industrial hub in Telangana, he said.

Balkrishan Goenka, chairman of Welspun Group, said Rama Rao persuaded his group four years ago to relocate an under-construction plant to Telangana from Kutch in Gujarat. “With the vision he had shown, we had to stop the work and we shifted our plant here. The plant you see today is KTR’s vision. Five years ago, it was hard to imagine what has been done at Chandanvelly. In the coming years, this is going to be an industrial paradise not only for Telangana but for the whole country,” he said.

We are here becuause of the vision of Minister @KTRBRS. I am amazed at the growth of Chandanvelly Industrial park and I firmly believe that Chandanvelly will become India's industrial paradise in the coming years: @BKGoenka, the Chairman of @TheWelspunGroup pic.twitter.com/1W3QmRsmz1

— KTR, Former Minister (@MinisterKTR) February 22, 2023

Rama Rao thanked Goenka for dropping the plan to set up the plant in Gujarat and moving to Telangana. While two units at an investment of Rs 2,000 crore are up and running, he said, Goenka has promised to invest Rs 3,000 to Rs 5,000 crore in Chandanvelly in the coming five to six years. He appealed to the business group to also work with the community and local leadership under their corporate social responsibility (CSR) program. The minister thanked the Welspun group for offering to train 1,200 students and set up an IT Shared Services Centre in Chandanvelly to create jobs for the local youth.

When you land in Hyderabad airport, you get a different feeling…the development that has happened across sectors is visible. Be it GDP, farmer's income or IT growth, Telangana has progressed a lot under the leadership of CM KCR – BK Goenka, Chairman @TheWelspunGroup pic.twitter.com/LnOBQPqit2

— Konatham Dileep (@KonathamDileep) February 22, 2023

“The new facility will not only strengthen the growing portfolio of Welspun but also create 12,000 plus direct & indirect jobs that will benefit the surrounding communities of Chandanvelly,” said Dipali Goenka, joint MD & CEO, Welspun India. The plant will manufacture spun lace, which is used in categories like hygiene application, and family care, among others.