Asian Paints to Invest 650 Crores for Capacity Expansion at Ankleshwar Site
Gujarat, India: Asian Paints Ltd has announced that it will capitalize Rs 650 crores to expand production of paints, synthetic resins and emulsion at its Ankleshwar (Gujarat) facility.

In August 2016, the company had announced a proposal to modify its product mix at the manufacturing facilities at Ankleshwar by expanding the capacity of synthetic resins and emulsions by nearly 35000 MT.

As per the new plan, the company will increase the prevailing manufacturing capacity of paints from 130,000 kilo litre (KL) to 300,000 KL per annum and of synthetic resins & emulsions from present 32,000 MT to 85,000 MT. "It would involve an estimated investment of 650 crores which would be met through internal accruals," said Asian Paints.

The company expects to complete the expansion project over the next 3 to 4 years. As part of this expansion plan, Asian Paints will phase out the production of phthalic anhydride and its associated products from this facility.