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Asian Paints to expand Gujarat manufacturing unit with an investment of Rs960cr; Stock surges 1%

This expansion will be carried out on the existing land owned by the Company.

November 30, 2021 11:32 IST | India Infoline News Service
Asian-Paints1
Asian Paints Ltd has informed to the exchanges regarding proposal to expand the existing manufacturing capacity of the Company’s manufacturing facility situated at Ankleshwar, Gujarat.

The Company on Monday signed a Memorandum of Understanding with the Government of Gujarat, commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL and resins and emulsions from 32000 MT to 85000MT.

The expansion project is to be completed over a period of the next 2 -3 years at a total investment of Rs960cr (approx.) on plant and machinery at the current prevailing prices, said company in a regulatory filing.

This expansion will be carried out on the existing land owned by the Company.

At around 11:30 AM, Asian Paints was trading at Rs3,173 apiece up by Rs29.5 or 0.94% on the BSE.

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