Asian Paints has signed an MoU with the Gujarat government to begin expanding its paint manufacturing capacity from 130,000 KL to 250,000 KL, as well as resins and emulsions capacity from 32,000 MT to 85,000 MT.
The expansion would take two to three years to complete, with a total investment of Rs 960 crore in plant and gear, and will be carried out on land that the corporation currently owns in the state.
Asian Paints said,”We inform you that the Company has today signed a Memorandum of Understanding (MoU) with the Government of Gujarat, commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL and resins and emulsions from 32,000 MT to 85,000 MT to be completed over a period of the next 2-3 years at a total investment of Rs 960 crore (approx.) on plant and machinery at the current prevailing prices.”
