Reported By:
| Edited By: Nandini Goswami |Source: DNA |Updated: Mar 16, 2018, 05:28 AM IST
Berger Paints is setting up a water-based paints plant in South India at an investment of Rs 100 crore.
The paints major is also coming up with an emulsion plant in Gujarat and a resin plant in Goa for Rs 30 crore.
Subir Bose, managing director, Berger Paints, said, “We have decided to set up the water-based paints plant either in Tamil Nadu or Karnataka. A largely automated plant, its capacity will be 100,000 kilolitre/annum. Water-based paints are growing by 15-18% and it makes strategic sense to come up with this project.”
The company, which has a market share of 19%, would fund the projects mainly from internal accruals and from conversion of warrants.
Almost Rs 100 crore could come in by this process.
The emulsion unit in Gujarat, expected to be operational by April 2010, would have a capacity of 2,000 tonnes per month while the resin plant, slated to be ready by December 2009, will have a capacity of 500 tonnes per month.
Berger Paints has deferred its plans to set up an automotive plant at Jejuri, which is 70 kms from Pune.
“We have 17 acres of land at Jejuri and will take a view on how to utilise the land shortly,” the MD said.
