Asian Paints has signed a Memorandum of Understanding (MoU) with the Gujarat Government to kickstart the expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL and resins and emulsions to 32,000 MT to 85,000 MT. The expansion will be completed over a period of 2-3 years with total investment worth Rs 960 crore on plant and machinery and will be carried out at the land already owned by the company in the state.
“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,” Asian Paints said in an exchange filing.
Source: Asian paints
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