The company had previously announced on October 29, 2020, setting up a Greenfield facility at Anjar to enter the Ductile Iron (DI) Pipe business.
Due to increased capacity the total project cost to Rs1,550cr (plus soft cost) from the earlier planned Rs1,250cr (plus soft cost). The project is being funded through a combination of internal accruals and debt. The project is expected to be commissioned by April 2022. As the project is currently under construction, there is no capacity utilization as of now
“Over the last few months, there is an increased focus on creating water supply infrastructure in the country through various government schemes. For instance, in the Union Budget announced in February 2021, there was an increase in the allocation on Jal Jeevan Mission to provide a functional household tap connection to every rural household."
Moreover, the Jal Jeevan Mission (Urban) has also been announced. The outlay for this is Rs2.87 trillion and it will be implemented over the next 5 years. Tap water connection to 2.86 crore urban households and liquid waste management in 500 cities has been envisaged as part of this scheme. Increased spending by state governments and municipal corporations is also expected to improve accessibility of drinking water supply across the country,” company said.
Welspun Corp Ltd ended at Rs153.80 per piece down by Rs3.55 or 2.26% from its previous closing of Rs157.35 per piece on the BSE.