Asian Paints launches ₹4,000 cr capacity addition

Embarking on its largest capacity expansion this fiscal, Asian Paints has decided to invest ₹4,000 crore at its Visakhapatnam and Mysuru facilities to add 1.1 million kilo litre to its current output. The company is setting up plant with a 5 lakh KL per annum capacity at Visakhapatnam at an investment of ₹1,785 crore and a 6 lakh KL plant at Mysuru by investing worth ₹2,300 crore, managing director & chief executive KBS Anand said, reiterating that the player is in the midst of its largest capacity expansion whereby 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 this fiscal. Asain Paints, which is the domestic market leader, operates in 16 countries and have 25 manufacturing facilities globally and catering to consumers in over 60 countries. In the automotive paints segment, the company added Ford and Hyundai during this year and could also gain market in share in the two-wheeler space, he insisted.