Techno Paints to set up two new plants in Andhra, one in Madhya Pradesh

City-based paint maker Techno Paints on Tuesday said it was setting up three more plants -- at Visakhapatnam and Chittoor in Andhra Pradesh and Katni in Madhya Pradesh -- to manufacture cement putty, textures, primers and emulsions.

In the first phase, each plant will have an annual capacity of 30,000 metric tonnes. We are investing Rs 46 crore on the new plants," Akuri Srinivas Reddy, Founder of Fortune Group which owns Techno Paints, said in a press release. "We are raising funds through debt. Banks are ready to provide funding."

Techno Paints currently has three plants in Telangana and one in Andhra Pradesh, with a cumulative annual capacity of 2.50 lakh metric tonnes.

To meet its objective of emerging as one of the major players in India's painting sector, Techno Paints is expanding its retail network across India.

With more than two decades of experience in executing major corporate and government painting projects, the company was now making concerted efforts to carve a niche for itself in the retail painting space, the release added.