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Asian Paints would like to clarify certain information relating to the article ‘India to see a wave of fresh paint’ by Yogi Malik published in APCJ June/July issue, on page 12.
Asian Paints has not officially approached the Andhra Pradesh State government for land for setting up a new manufacturing plant in the region. Instead, they are setting up a plant at Khandala in Maharashtra with an initial capacity of 300,000KL/yr, which can be scaled to 400,000 KL/yr in the future.
The investment cost is expected to be around INR10bn and the plant will be commissioned around the last quarter of the 2012-13 financial year. The initial capacity of the Rohtak plant, which was also mentioned in the report, is 150,000KL/yr and can be scaled down to 400,000KL/yr in the future.
Finally, Asian Paints has not enhanced capacities of its powder coatings facility at Himachal Pradesh and industrial coatings facility in Maharashtra. Mr P M Murty, MD and CEO of Asian Paints has provided an exclusive report on the Indian market in this month’s APCJ.