The JSW Group is planning to foray into the paints business shortly, its chairman Sajjan Jindal said here today.
He said there was huge domestic consumption of paints and the vertical appears to be a natural progression for the group which produces cement and TMT bars.
Initially, the group will begin with industrial paints, specially steel coating, and the first project will be at Dolvi site.
However, the foray is still at the conceptual stage and the finer details are yet to be finalised.
His son Parth is spearheading the new initiatives, Sajjan Jindal said at the inauguration of the construction of the company's cement plant here, an erstwhile Left wing extremist-hit area.
The group is also planning for a separate brand and the paint foray will be by the group and not by JSW Steel, he said.
Speaking about its cement production, Jindal said the company will pump in another Rs 2,000 crore to enhance the capacity from 6 MT to 16 MT in the next 24 months.
"We have already placed order for 8 grinding units of 1.2 million tonnes each. Location for six units are finalised and will come up in Tamil Nadu, Odisha and the mother steel plant at Vijaynagar," he said.
Jindal said some Rs 10,000 crore investment could follow over the next few years in ventures like cement, power, paints and steel.
