Diversifying field of operation, homegrown steel maker Kamdhenu Ispat has forayed into the paint segment with launch of 'Colour Dreamz' range.
The company, known for its Kamdhenu TMT bars, would initially invest Rs 30 crore in new paint manufacturing unit at Rajasthan, its Chairman and Managing Director Satish Agarwal said, while unveiling the paint range yesterday.
He added, Kamdhenu Ispat has strategically invested in the paint segment with a view to harness the immense opportunity that the booming construction sector is offering.
Asked about the USP of Colour Dreamz, he said it is "best product at best price".
"The entire range of Colour Dreamz products have been priced 10-12 per cent cheaper than the leading brands, which would help the company acquire a sizeable share of the Rs 20,000 crore domestic paint market, Agarwal added.
Kamdhenu's new paint-making unit would have about 60,000 kilo litre annual capacity to start with, he said.
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The company is also mulling foreign collaboration to replace solvent-base paints with water-bases to make them more eco-friendly.
Kamdhenu is eyeing a turnover of about Rs 100 crore from the new paint division in the first year of operation and nearly Rs 1,000 crore in a span of three years, the managing director added.