JSW enters paints business with Rs600cr investment: Media report

JSW Paints, the promoter-owned company, will produce both decorative and industrial paints.

May 03, 2019 08:05 IST India Infoline News Service

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The JSW Group has entered paints business with a plan to set up two manufacturing facilities at Vasind in Maharashtra and Vijayanagar in Karnataka at an investment to the tune of Rs600cr, a BusineeLine report said.

As per a media report, JSW Paints, the promoter-owned company, will produce both decorative and industrial paints. It has set up an automated coil coatings facility, with an annual capacity of 25,000 kilolitres (kl) and a water-based decorative paints plant of 1,00,000 kl capacity.

Further, the group has lined up an investment of Rs1,000cr to enhance capacity to 2,25,000 kl in the next 18 months.

The report further stated that the company will start supplying industrial paints from Wasind plant to JSW Steel for making color-coated sheets. Incidentally, JSW Steel is ramping up its color-coated sheet capacity to two million tonnes per annum (mtpa) from 0.7 mtpa in 18 months and would require about 40,000 kl of paints.

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