Asian Paints To Set Up Rs 2000 Cr Water-Based Paint Manufacturing Unit

Asian Paints will be setting up a new manufacturing unit worth Rs 2000 crores. The company announced this stating that the Board of Directors, in a meeting held on 06 January 2023, has accorded their approval for setting up the new manufacturing unit. 

In this new unit, Asian paints would use the latest technology to produce paints intermediates in the proposed manufacturing facility in an environment-friendly manner. The manufacturing at the facility is expected to be commissioned in 3 years, after the acquisition of the land. 

The company is seeking the possibility of making this investment and setting up the manufacturing facility in Madhya Pradesh. However, this is subject to the grant of requisite incentives by the government of Madhya Pradesh and such other approvals and clearances, as may be required.

In this regard, the company will make necessary disclosures on material developments.