Asian Paints to set up Rs 20bn paint manufacturing plant in Madhya Pradesh
Asian Paints Ltd said that its board of directors has approved the company’s plan to set up a new water-based paint manufacturing plant with an investment of around INR 2,000 crores in Madhya Pradesh.
According to the Indian paint company, the plant will have a capacity of four lakhs kilolitres per annum and is likely to be commissioned in three years once the land for it is acquired.
Asian Paints would also seek requisite incentives from the Madhya Pradesh government and other required approvals and clearances.
Asian Paints to set up Rs 20bn paint manufacturing plant in Madhya Pradesh. Photo courtesy of Deshi Heero/Wikimedia Commons.
The paint company plans to utilize the latest manufacturing technology for producing paints and intermediates in the proposed paint manufacturing plant in Madhya Pradesh in an environment-friendly manner.
In late 2022, Asian Paints entered into a joint venture agreement with Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company (ASD) to set up a white cement manufacturing facility in Fujairah, the UAE.