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New Delhi, Aug 20

Construction steel maker Kamdhenu Ispat has forayed into paint manufacturing and has set up its first plant with an initial investment of Rs 30 crore at Bhiwadi in Rajasthan, a company release said. The company is entering the home décor sector with its luxury paint brand Colour Dreamz. Commenting on the development, its Chairman, Mr Satish Kumar Agarwal, said, “We have strategically invested into paint segment with a view to harness the immense opportunity that the booming construction sector is offering. The project is being financed with a combination of bank credit and internal accruals,” he said. The company is targeting decorative or architectural segments of paint. The Indian paint industry is growing at the annual rate of around 18-20 per cent. The company had also entered the housing sector earlier this year.

—Our Bureau

More Stories on : Diversification | Steel | Paints

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