Asian Paints today said it has revised plans for its manufacturing plant in Andhra Pradesh, which will now have higher capacity and a marginal increase in investment.
“The company has re-looked at its product portfolio to be manufactured at this proposed manufacturing plant and has decided to revise its plans of setting up of the plant with a maximum capacity of 5,00,000 kilolitres per annum, to be put up in phases,” Asian Paints said in a BSE filing.
“The approximate amount that would be invested by the company in phases over a period of 12 years from the date of commencement of construction, including the cost of land, would be Rs 1,785 crore,” it said.
In March last year, the company announced that it will set up a manufacturing facility in Andhra Pradesh at an investment of Rs 1,750 crore, spread over 12 years.
It signed MoU with the state government to set up the plant for paints and intermediates at Pudi Village in Vishakhapatnam district.
“The maximum capacity of the proposed facility would be 4,00,000 kilolitres per annum and the company would invest money in several phases. An amount of approximately Rs 1,750 crore would be invested by the company in phases over a period of 12 years,” Asian Paints had said.