Hyderabad (Telangana) [India], July 25 (ANI): Telangana Industries and IT Minister KT Rama Rao on Saturday inaugurated a Rs 1,100-crore manufacturing facility of a flooring vertical in Hyderabad.
Rao laid the foundation stone for this unit, which will commence operations soon. The manufacturing facility is set up by the Welspun Group and is spread across 200 acre and employs around 1,600 people.
This facility will have a production capacity of 40 million square metres annually, stated the press release.
Commenting on the launch, B K Goenka, the Chairman of Welspun Group said, "This emerging business is poised to benefit from the synergies with our existing businesses and large customer base, thereby creating a strong domestic as well as global growth opportunity."
The company will invest Rs 400 crore over a span of two financial years. (ANI)