No plans to move out of Karnataka: Asian Paints

Asian Paints has clarified that it is not planning to move out of Karnataka, the state government said today.
Asian Paints President (International) Jalaj Dani, who met Chief Minister Siddaramaiah here, thanked the government for its cooperation for setting up a unit at Thandya Industrial area, Nanjanagud Taluk in Mysuru District, according to an official release.
He also informed the Chief Minister that the company has no plans to go out of Karnataka. As informed earlier, the company will be setting up it production unit near Nanjanagud, it added.
Recently, some reports had emerged that Asian Paints is planning to move out of the state due to "inordinate delay" in getting land.

The project, with an investment of about Rs 2,300 crore, will provide employment to about 900 people and indirect employment to about 4,500 people, the release quoting Dani said.
Stating that it will be biggest plant with an expected annual turnover of Rs 10,250 crore, he said the government has sanctioned 175 acres of land for the project and has also promised special incentives.