India’s APL to start paints expansion in June

09 May 2008 23:07  [Source: ICIS news]

NEW DELHI (ICIS news)--India's Asian Paints Limited (APL) plans to commission  by June an expansion project at Sriperumbudur, Tamilnadu, that would double the paints capacity of the facility to 100,000 kilolitres/year, the company said on Friday.

In addition, the company plans to commission by January 2010 a 150,000 kilolitres/year capacity at Rohtak, Haryana, under the first phase of this greenfield project, the company said during a presentation to investment analysts.

APL said it has a positive outlook for the Indian market for the fiscal year ending 31 March 2009. However, the company could be affected by global financial turmoil.

Moreover, the Indian government’s anti-inflationary measures addressing petro-products and other commodities could affect the paints industry, APL said.

In other news, APL said  there would be “steep price increase” for solvent-based products, effective on 1 June. APL did not specify whether the effected products were paint intermediates or paints.

APL also said that its automotive paints joint venture Asian PPG Industries Limited (APPG) had commissioned a 3,200 kilolitres/year plant in Chennai, Tamilnadu.

APL and PPG Industries each hold a 50% stake each in the joint venture.

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By: Naresh Minocha
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