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Asian Paints to infuse over Rs 2,650 cr in manufacturing

Friday, 21 Oct 2022
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Asian Paints will make an investment of over Rs 2,650 crore in a greenfield vinyl acetate plant, white cement Joint Venture (JV) in the UAE and a nano-technology company. 
 
The investments will help the paints maker with backward integration. 
 
The company will make an investment of Rs 2,100 crore to set up a manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM). 
 
The plant will have an installed capacity of 1,00,000 tpa for VAM and 1,50,000 tpa for VAE. 
 
The paints maker will form a 60:40 JV with Riddhi Siddhi Crusher & Land Transport (Riddhi Siddhi) and Associated Soap Stone Distributing Company Private (ASD) to set up a white-cement plant with an investment of Rs 550 crore. 
 
The third investment will be in nanotechnology player Harind Chemicals & Pharmaceuticals.
 
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