Hyderabad-based Techno Paints announced the construction of three additional factories to produce cement putty, textures, primers, and emulsions in Visakhapatnam, Chittoor, and Katni in Madhya Pradesh.
“In the first phase, each plant will have an annual capacity of 30,000 metric tonnes. We are investing Rs 46 crore on the new plants,” AkuriSrinivas Reddy, Founder of Fortune Group which owns Techno Paints, said in a press release.
“We are raising funds through debt. Banks are ready to provide funding.” Techno Paints currently has three plants in Telangana and one in Andhra Pradesh, with a cumulative annual capacity of 2.50 lakh metric tonnes.
To meet its objective of emerging as one of the major players in India’s painting sector, Techno Paints is expanding its retail network across India.
