Nippon Paint, Asia’s largest paint and coatings maker, is ratcheting up its presence in India, with two new plants and doubled capacity at a third planned within three years, the company has announced.
"The paints industry is growing in the country, and we want to tap the market,” said Ramakanth Akula, president of Nippon Paint India (Decorative).
Nippon will invest Rs 250-crore (about $54 million US) in India by 2013 and double production capacity of its Chennai facility to 40,000 kiloliters (about 10.6 million gallons) annually by August 2011, Akula said.
Nippon Paint manufactures more than 100,000 products for the international paint and coatings markets.
Production Capacity Grows
The company has three facilities at Pune, Bangalore and Chennai and has already invested more than Rs 250-crore in the country.
That includes Rs 60-crore already invested in its Chennai facility, where the company plans to spend an additional Rs 30-crore to double capacity, Akula said.
Of the new Rs 250-crore investment, about Rs 40-crore will be used to set up a new plant at Taloja in Maharashtra by April 2011 and another decorative paints facility in Haryana by 2012.
"We will set up an industrial painting facility at Taloja in Maharashtra by April 2011,” Akula said. “Its annual capacity is expected around 10,000 kiloliters [about 2.6 million gallons]."
"We are talking to the Haryana Government for acquiring land for setting up a new plant in the state. As soon as we get the land, we will start construction of the plant," with an investment of about Rs 100-crore.