Asian Paints has decided to undertake a major capacity expansion drive this year which will entail an investment to the tune of Rs 4,000 crore. According to a news agency recent report, the company is targeting to bring in additional production capacity of over a million kilo litre to its present production base in the country.
“We are in the midst of our largest capacity expansion. In the first phase, two mega plants with initial capacities of 3,00,000 KL per annum each of water-based paints would be commissioned at Mysuru and Visakhapatnam in FY19,” Asian Paints managing director & chief executive KBS Anand said in the annual report. Investments in Visakhapatnam plant is expected to the tune of Rs 1,785 crore while Mysuru unit will see pumping in Rs 2,300 crore.