Decks are cleared for a mega painting plant by Asian Paints in Visakhapatnam.
The plant will involve an investment of Rs.1700 crore. Chief Secretary I.Y.R. Krishna Rao held a review meeting with the Asian Paints representatives and Industries Department at Hyderabad on Saturday to sort out certain bottlenecks for the project proposed at Pudi village near here. Asian Paints has agreed to establish the unit after allotment of land and obtaining environmental and other clearances from the authorities.
The Special Investment Promotion Board cleared the proposal a month ago.
Sources said the painting giant wanted to acquire 100 acres at a concessional rate for its proposed four lakh kilo litre plant with a slew of incentives like tax concessions and power subsidy.
