Asian Paints has signed a Memorandum of Understanding (MoU) with the Government of Gujarat, commencing the proposed expansion of manufacturing capacity at its Ankleshwar facility at a total investment of about ₹960 crore at the current prices.
The company, in an exchange filing, said the manufacturing capacity of paint will go up from 130,000 KL to 250,000 KL, and resins and emulsions from 32,000 MT to 85,000 MT.
The capacity expansion will be completed over a period of the next 2-3 years.
The company said this expansion will be carried out on the existing land owned by the company.