Fortune Group intends to invest over Rs 75 crore in the expansion of its paint manufacturing capacity in the second phase.
At its factory near Patencheru, the company is currently producing premium finishes. It was created in collaboration with Rialto, an Italian company.
Currently, it has a capacity to make one lakh metric tonne of paint. The capacity will be doubled as a result of the expansion, which will take place next year. A total of Rs 75 crore was invested in the unit’s first phase.
Capacity utilisation is now about 70% and is expected to reach 100% within a year.
According to Fortune Group Founder Akuri Srinivas Reddy, the facility already employs roughly 150 people and will add another 100 in the second phase.
