Asian Paints plans to set up Rs.2,300 crore water-based paint manufacturing unit in Karnataka.
The company is to set up six lakh kilo litres per annum (KLPA) manufacturing unit at Immavu Village, Thandya Industrial Area (2nd Phase), Nanjangud Taluk in Mysore District.
Jalaj Dani, President, on Wednesday called on Karnataka Chief Minister Siddaramaiah and assured him that the company has no plans to shift the manufacturing unit to any other State.
The proposed plant at Nanjangud is expected to be the company’s biggest manufacturing plant with 6 lakh KLPA capacity with the estimated sales turnover of Rs.10,250 crore.
Dani told chief minister that “Out of the total sales, products made in Karnataka are expected to be around Rs.3,000 crore. In addition to this, the sale of certain products in Karnataka sourced from other plants outside the State will be around Rs.2,000 crore. Total sales in Karnataka are around Rs.5,000 crore.”
Chief Minister, after meeting the top Asian Paints representatives, said the company in addition to investment in manufacturing unit is also planning to contribute to the socio-economic development of the region by way of vendor development, skill development and corporate social responsibility (CSR) activities.
“The vendor development plan will give a fillip to the State’s policy of encouraging manufacturing sector and will also provide for vendor development leading to creation of an anchor unit with requisite ecosystem for this sector to grow in the State,” said K Ratna Prabha, Karnataka Additional Chief Secretary, Commerce and Industries Department.
The State government has allotted 175 acres to the company in Thandya Industrial Area, and has agreed to sanction more special incentives and concessions requested by the unit.
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