Welspun Flooring Limited, a fully integrated and independent flooring vertical of the USD 2.7 billion Welspun Group, has launched its Rs 1,100 crore manufacturing facility at nearby Chandanvelly.
Telangana minister for IT and Industries KT Rama Rao inaugurated the facility, a company press release said. Spread across 200 acres, the state-of-the-art facility which employs 1600 people, will have a production capacity of 40 million square metres annually.
Adjacent to this facility, Welspun Group is also establishing a manufacturing plant for its emerging business Advanced Textiles. The minister laid the foundation stone for the-unit, which will commence its functioning soon. The company will invest Rs 400 crore over a span of two financial years, it said.
Commenting on the launch, BK Goenka, Chairman, Welspun Group said, "We are now entering another exciting phase of our growth with foraying into the flooring segment. 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. I am confident that through our new innovative product offerings in flooring, we will create a differentiation for ourselves to drive the next phase of our growth and further consolidate our global leadership position."
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