Asian Paints has been given the go-ahead to build a new water-based paint manufacturing facility with an annual production capacity of 4 lakh kiloliters for a cost of about Rs 2,000 crore. After acquiring land, the facility’s manufacturing is anticipated to be operational in three years.
The company is looking into the feasibility of making this investment and establishing the manufacturing plant in the state of Madhya Pradesh, subject to the government of Madhya Pradesh providing the necessary incentives and receiving all necessary permits and certifications. In the proposed production plant, the company would use cutting-edge manufacturing technologies to produce intermediates and paints in a way that is beneficial to the environment.
Asian Paints is in the business of producing, marketing, and distributing paints, coatings, home décor items, bathroom fixtures, and related services. Paints and home improvement are the company’s two major segments.