The Board of Directors of Asian Paints has approved the construction of a new water-based paint manufacturing facility with a capacity of 400,000 kiloliters per year at an approximate cost of 2,000 crore rupees. The facility is expected to be operational within three years, following the acquisition of the necessary land. This decision was made at the board meeting held on January 6, 2023.
The company is considering the possibility of locating the new manufacturing facility in the state of Madhya Pradesh, subject to the granting of necessary incentives by the government of Madhya Pradesh and the obtaining of any required approvals and clearances. The company is currently in the process of exploring this possibility.
The new manufacturing facility will utilize the latest technology to produce paints and intermediates in an environmentally friendly manner.
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