Asian Paints plans are gearing up to set up a new paint manufacturing plant of 4 lakh kilo litres per annum capacity in Madhya Pradesh with an investment of Rs 2,000 crore.
The Board of Directors of the company at their meeting held accorded their approval for setting up a new water-based paint manufacturing facility, said the company. The manufacturing facility is expected to be commissioned in 3 years, after acquisition of land, it added.
The company is exploring the possibility of making this investment and setting up the manufacturing facility in Madhya Pradesh, subject to a grant of requisite incentives by the State Government and such other approvals and clearances, as may be required, it added.
The company would use the latest manufacturing technology to produce paints and intermediates in the proposed manufacturing facility in an environment-friendly manner, it said.
