Tuesday, 24 January 2017

Asian Paints to expand paint manufacturing capacity in Gujarat

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Asian Paints Ltd has said that it is planning to expand the existing paint manufacturing capacity at Ankaleshwar, Gujarat from 130,000 KL to 300,000 KL per annum. It is also planning to augment the manufacturing capacity of synthetic resins and emulsions from existing 32000 MT to 85000 MT (approx.). The aforesaid expansion and augmentation would involve phasing out the current Phthalic Anhydride and its allied products manufactured at this facility. 

The aforesaid capacity expansion and augmentation would be completed over the next 3 to 4 years, depending on the demand conditions and subject to necessary statutory and other approvals. Further, it would involve an approximate investment of Rs. 650 crores which would be met through internal accruals. Meanwhile, shares of the company were trading at Rs 960.75 apiece, down 0.36 per cent from the previous close at 09:30 hours on BSE.

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