 "Asian Paints plans Rs 2300-cr paints facility in South India")
Asian Paints, India’s leading paint manufacturer, is planning to set up a paint manufacturing plant in South India to tap the growing southern and eastern regions of the country. The company is currently holding talks with the state governments of Karnataka and Andhra Pradesh for the new plant.
"To meet the demand in the Southern and Eastern parts of the country, the company is exploring the possibility of setting up integrated paint manufacturing plants in the states of Karnataka and Andhra Pradesh. Asian Paints is in the advanced stage of negotiations with the respective state governments. Based on the availability of land, other factors and regulatory approvals, the company will decide the location of the plant," said Asian Paints in a BSE filing on February 24, 2015.
The company is reportedly planning to set up a paint plant with a capacity of six lakh kilo litre per annum, and investment of Rs 2300 crores over a period of five to seven years.
"To meet the demand in the Southern and Eastern parts of the country, the company is exploring the possibility of setting up integrated paint manufacturing plants in the states of Karnataka and Andhra Pradesh. Asian Paints is in the advanced stage of negotiations with the respective state governments. Based on the availability of land, other factors and regulatory approvals, the company will decide the location of the plant," said Asian Paints in a BSE filing on February 24, 2015.
The company is reportedly planning to set up a paint plant with a capacity of six lakh kilo litre per annum, and investment of Rs 2300 crores over a period of five to seven years.