Bhubaneswar, Oct. 11: The Welspun group today signed two separate MoUs with the state government to set up a ductile iron pipe, spiral pipe plant, a captive power plant and an integrated textile park with a total investment of about Rs 6,403.80 crore.

Welspun Group managing director B.K. Goenka signed the MoU with the Orissa government. Welspun Power and Steel would establish a 3-million-tonne integrated steel plant and a 150-megawatt captive power facility over 2,200 acres of land somewhere in Cuttack or Bhadrak at an investment of Rs 6,103.8 crore over the next four years.

Welspun Anjar SEZ would set up the integrated textile park encompassing a modern spinning mill with a capacity of 25,000 spindles and a weaving mill at an investment of Rs 300 crore.

The textile park, for which the company is seeking SEZ status, would be located over 400 acres of land at Choudwar in Cuttack.

The money for the textile park would be invested by the company directly or through its subsidiaries over the next three years.

Goenka said the Choudwar park would complement the company’s high quality export-oriented capabilities in Gujarat and will offer products to our customers from multi-locational world-class facilities. “The company would conduct a techno-economic study for the textile park and would ensure that the spinning mill is commissioned within a year from the date of transfer of encumbrance-free land,” he said.

He added that the company would source its cottons for the plant from the KBK region.