 "Asian Paints revises plans for proposed Vizag plant")
Asian Paints Ltd, India’s leading paint manufacturer, has announced revision in plans for setting up its proposed paints manufacturing plant in Vishakhapatnam, Andhra Pradesh.
“The company has re-looked at its product portfolio to be manufactured at this proposed manufacturing plant and has decided to revise its plans of setting up of the plant with a maximum capacity of 5,00,000 kiloliters per annum, to be put up in phases,” said Asian Piants in a BSE filing today.
In March last year, the company had announced plans to set up a 400,000 kilo litre capacity plant in Visakhapatnam for catering to the eastern market as the Rs 30,000-crore domestic paints business was expected to grow in double digits.
Today, the company said that it would invest Rs 1785 crores, including the cost of land, in phases over a period of 12 years from the date of commencement of construction.
“The company has re-looked at its product portfolio to be manufactured at this proposed manufacturing plant and has decided to revise its plans of setting up of the plant with a maximum capacity of 5,00,000 kiloliters per annum, to be put up in phases,” said Asian Piants in a BSE filing today.
In March last year, the company had announced plans to set up a 400,000 kilo litre capacity plant in Visakhapatnam for catering to the eastern market as the Rs 30,000-crore domestic paints business was expected to grow in double digits.
Today, the company said that it would invest Rs 1785 crores, including the cost of land, in phases over a period of 12 years from the date of commencement of construction.
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