The board of directors of the Asian Paints at their meeting held on 06 January 2023, has accorded their approval for setting up a new water-based paint manufacturing facility.
The proposed plant will have a capacity of four lakh kilo litres per annum at an approximate investment of Rs 2,000 crore. The facility is expected to be commissioned in three years, after acquisition of land.
The company is exploring the possibility of making this investment and setting up the manufacturing facility in the state of Madhya Pradesh, subject to grant of requisite incentives by the government of Madhya Pradesh and such other approvals and clearances, as may be required.
The company would use latest manufacturing technology to produce paints and intermediates in the proposed manufacturing facility in an environment friendly manner.