Asian Paints Signs Agreement to Build Production Facility
MUMBAI, India - Asian Paints Ltd. has signed a memorandum of understanding (MoU) with the government of the state of Andhra Pradesh in India to set up a manufacturing facility for paints and intermediates at Pudi Village, Rambilli Mandal, Vishakhapatnam District, Andhra Pradesh.
The company will invest in the project over a 12-year period, subject to due diligence and obtaining necessary regulatory and other approvals. The maximum capacity of the planned manufacturing facility will be 4,00,000 kiloliters per annum, which will be achieved in phases.
The company plans to use the latest manufacturing technology to produce the paints and intermediates in an environmentally friendly manner.