By IANS
Chandigarh : India's leading paint manufacturer Asian Paints has received a green signal to set up a mega paint plant in Haryana's Rohtak district.
The Haryana Investment Promotion Board Tuesday decided to provide 160 acres of land to Asian Paints at Rohtak's industrial model township (IMT).
The plant will come up in Chief Minister Bhupinder Singh Hooda's home district.
Financial Commissioner (Industries) P.K. Chaudhary said that the plant, on full capacity utilization, will have a turnover of Rs.46 billion (Rs.4,600 crore). The annual capacity of the plant will be 400-500 KL of paint.
He said that the plant will generate annual revenues of Rs.400 million for the state and Rs.7 billion for the central government.
The company will invest Rs.6 billion in the first phase and create 1,100 jobs.
The IMT at Rohtak is being set up on the lines of the IMT at Manesar near Gurgaon, which has attracted billions of dollars in investment from foreign and Indian investors.
The state government is expecting more investment in the IMT at Rohtak following the clearance of this mega project.
Asian Paints has 10 manufacturing units for paints and chemicals in India. Its products are exported to 22 countries.