Asian Paints today said its step down subsidiary Berger International Ltd (BIL), Singapore, has filed an application for investment approval with the regulatory authorities for setting up a paint manufacturing facility in Indonesia.
Berger International Ltd (BIL), Singapore is a subsidiary of Asian Paints (International) Ltd (APIL), Mauritius. APIL is a wholly owned subsidiary of the company.
"..On August 22, 2014 (BIL) filed an application for investment approval with the regulatory authorities at Jakarta, Indonesia for setting up a paint manufacturing facility as part of a greenfield foray into Indonesia," Asian Paints said in a BSE filing.
This greenfield venture is subject to necessary statutory and other approvals, the company added.
