Asian Paints to invest Rs 4,000 crore in new units at Karnataka, AP – Feedback

Asian Paints Ltd is investing around Rs 4,000 crore on setting up two manufacturing plants in Karnataka and Andhra Pradesh, although it has cautioned that demand conditions in the current fiscal “still remain uncertain” on account of the global economic situation.

Asian Paints chairman Ashwin Choksi said in the latest Annual Report that “the company would be investing in phases at both these facilities to enable it to service the future demand adequately.” The company has completed the land procurement process in both the states during the last fiscal and has taken possession of the identified land. The report said the company will be set up a paint manufacturing plant with a maximum capacity of 4,00,000 kilolitres (KL) in phases at Visakhapatnam in Andhra Pradesh at an approximate investment of Rs 1,750 crore.

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