By IANS
New Delhi : Leading Indian paint-makers Asian Paints will invest Rs.3 billion to set up a new manufacturing unit at Rohtak in Haryana.
“We have acquired 130 acres in Rohtak and would initially invest Rs.3 billion to set up a greenfield manufacturing unit there,” Rajeev Batra, chief manager, corporate relations, said on the sidelines of India Economic Summit here Monday.
“The plant, with initial capacity of 150,000 kilolitres, is likely to come up by end 2009. We might double the capacity in the near future based on the market demand,” he added.
Currently, Asian Paints has a capacity to produce 300,000 kilolitres of paints a year. The new plant would raise the capacity to 450,000 kilolitres per annum.
The $851-million Asian Paints operates in 21 countries and has 29 paint manufacturing units in the world, servicing consumers in over 65 countries.
Its largest plant is in Sriperumbudur, Tamil Nadu, which is also undergoing major expansion to double its capacity to 100,000 kiloliters.