 "Asian Paints to set up Rs 2300-cr facility in Mysuru")
Asian Paints, India’s leading paint manufacturer, has confirmed the location of its earlier announced facility in south India at Mysuru, Karnataka. “With reference to the earlier disclosures made by the company with respect to the setting up of paint manufacturing facilities in the southern states of the country, Asian Paints Ltd has informed BSE that the company is proposing to set up a paint manufacturing plant at Mysuru district in Karnataka,” said Asian Paints in a press release.
Asian Paints will set up the six lakh kilolitre per annum paint manufacturing facility, built with an investment of an approximate cost of Rs 2,300 crores, in a phased manner.
“This is subject to due diligence and necessary regulatory and other approvals. The above proposal for setting up the manufacturing facility in Karnataka is towards fulfilling the long term capacity requirements of the company and is subject to the future demand conditions,” added the release.
With the new plant, the company aims to meet the demand in the Southern and Eastern parts of the country.
Asian Paints will set up the six lakh kilolitre per annum paint manufacturing facility, built with an investment of an approximate cost of Rs 2,300 crores, in a phased manner.
“This is subject to due diligence and necessary regulatory and other approvals. The above proposal for setting up the manufacturing facility in Karnataka is towards fulfilling the long term capacity requirements of the company and is subject to the future demand conditions,” added the release.
With the new plant, the company aims to meet the demand in the Southern and Eastern parts of the country.