Asian Paints in talks for Rs. 2,500-cr project in South.

Asian Paints is talking to southern States for land for setting up a six-lakh kilolitre decorative paints project. KBS Anand, MD & CEO, told reporters here that the company was talking to a number of States in the southern region for the project, which would require 130 acres and a total investment of Rs. 2,500 crore.

'Availability of land, water and power are the key issues for the project. There is a growing market in the region. Though we are present there through Andhra Pradesh and the Tamil Nadu units, there is enough room for growth. The Andhra Pradesh Government (earlier) did not allow us capacity expansion,' he said after a press meet to announce the three-day Indian Paint Conference.

According to sources, the company was in talks with both Karnataka and Andhra Pradesh for land. The Karnataka Government in September had consented to allow only 55-acres in Mysore district for the project.


HBL