Advertisement

Asian Paints aims to invest Rs 960 cr; to expand Gujarat manufacturing unit

01:48 PM Nov 29, 2021 | Agencies

Asian Paints Ltd on Monday has announced to invest Rs 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat.

The company has signed a memorandum of understanding (MoU) with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints said in a regulatory filing.

Advertisement
Advertisement

The expansion is to be completed in the next 2-3 years at a total investment of Rs 960 crore approximately on plant and machinery at the current prevailing prices, it added.

Advertisement

''This expansion will be carried out on the existing land owned by the company,'' the filing said. Shares of the company were trading higher by 0.19 per cent at Rs 3,150 on BSE.

(With inputs from PTI)

(To view our epaper please Read Now. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Advertisement