Denmark-based Hempel Paints on Monday said it was exploring the possibility of setting up a manufacturing plant in Gujarat at the investment of over Rs 100 crore. "We are looking to set up a paint manufacturing plant in Gujarat having over 10 million litres per annum production capacity, mainly for the industrial and marine applications," said Hempel's Jonas Bruhn.
"The location is yet to be finalised," Hempel India's business development manager, Prasad Talvelkar, said. Bruhn is a part of the 30-member Danish business delegation which is visiting the state to explore investment opportunities in sectors such as renewable energy, food processing and chemicals. The company whose marine coatings offers protection for all types of vessels, presently operates a 2.5 million litres per annum capacity start-up plant at Nashik in Maharashtra.
"The plant to be set up in Gujarat is expected to be ready by 2012 end and operational by 2013," Talvelkar said. It will cater to domestic markets as well as the South Asian region.
