Nippon Paints to set up $20m paint unit in India

21 March 2008 08:09  [Source: ICIS news]

MUMBAI (ICIS news)--Japan’s Nippon Paints is setting up an Indian rupees (Rs)800m ($19.8m) greenfield decorative paints plant at Sriperumputhur in India's southern state of Tamil Nadu as part its expansion strategy, a company official said on Friday.

Construction of the plant, which would have an estimated 2m tonne/year capacity, had already begun and was expected to be completed by the end of this year, Mukthakumar S Iyer, Nippon Paints marketing manger for India told ICIS news.

“As we have done in other countries we plan to become the most trusted and eco-friendly paint company which promotes environment friendly product with high functional properties,” he added.

The company also had plans to further expand operations in India, Iyer said. “As of now we are present only in the southern provinces. We would have a pan India presence by 2011”.

The firm expected to launch plants in the western states of Maharashtra and Gujarat before expanding operations to the north and east of India by 2011, he added.

Nippon also planned to set up facilities in Australia and Pakistan, Iyer said.

($1 = Rs40.32)

By: Aaron Rodrigues
+65 6780 4359

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