Asian Paints had informed the Indian stock market that it is going to invest around Rs 4,000 crore on setting up two manufacturing plants in Karnataka and Andhra Pradesh. The Company also detailed about this in its latest Annual Report. The company is planning this investment in phases at both these facilities to enable it to service the future demand adequately.
The company had completed land procurement in both the states and already took possession of the land. AP Plant will come up in Vishakapatnam, with a maximum capacity of 4,00,000 kilolitres (KL) in phases at an approximate investment of Rs 1,785 crore over the period of 12 years from the date of commencement of construction including land costs.
Vishakapatnam plant of Andhra Pradesh is expected to be one of the biggest plants of Asian Paints in the country with direct employment generation of around 700 people. The land for the site is around 110 acres at Pudi village, located opposite the proposed 4000MW plant by National Thermal Power Corporation (NTPC) at Pudimadaka and Rambilli mandals in Atchuthapuram mandal.
