Asian Paints to Invest ₹ 960 Crore at Gujarat Facility
Asian Paints Ltd., an Indian multinational paint company headquartered in Mumbai, said in its regulatory filing on 29th November 2021 that the company will make an investment of ₹ 960 crore for the expansion of manufacturing capacity at its facility located at Ankleshwar in Gujarat.
Asian Paints has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for commencing the proposed expansion of manufacturing capacity of paints from 130,000 KL to 250,000 KL, and resins and emulsions from 32,000 MT to 85,000 MT.
The expansion will be carried out on the existing land owned Asian Paints and will be completed over a period of the next 2-3 years.