ASIAN PAINTS LTD. - 500820 - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
This is to inform you that the Board of Directors of the Company at their meeting held on 6th January, 2023 have accorded their approval for setting up a new water-based paint manufacturing facility with a capacity of 4 lakhs kilolitres per annum at an approximate investment of Rs. 2,000 crores. The manufacturing at the facility is expected to be commissioned in 3 years, after acquisition of land. The Company is exploring the possibility of making this investment and setting up the manufacturing facility in the state of Madhya Pradesh, subject to grant of requisite incentives by the Government of Madhya Pradesh and such other approvals and clearances, as may be required. The Company would use latest manufacturing technology to produce paints and intermediates in the proposed manufacturing facility in an environment friendly manner. The Company will make necessary disclosures on material developments in this regard. This is for your information and record.07-01-2023