Belgium-based fluid management major Aliaxis, which owns a 100 per cent stake in Ashirvad Pipes, is all set to invest over Rs 550 crore in India over the next two years, focusing on both greenfield and brownfield projects to augment its capacity by nearly 30 per cent.

Ashirvad Pipes CEO Partha Sarathi Basu  said that the company has planned to set up two new greenfield manufacturing facilities in south India – one in Hyderabad and another in Chennai – with a combined investment of Rs 400 crore, 

This will increase its production capacity from 3 lakh tonnes to 4 lakh tonnes per annum, he said.

“With technologically advanced products, we aim to increase our market share by an additional 5 to 6 per cent from the current 12 per cent in the organised segment in the next two years,” Basu said.

He said the potential in the pipes and fittings market is immense.