Asian Paints getting ready for launching work

Visakhapatnam is set to find a place in world’s painting industry, with Asian Paints making hectic preparations for launching work on, what is considered, to be India’s largest manufacturing facility near Visakhapatnam.

After acquiring 113.47 acres at Pudi village near Atchutapuram, about 60 km from there on payment of Rs.61 lakh per acre to the AP Industrial Infrastructure Corporation, the Indian painting major has completed construction of the boundary wall.

“Now they are in advance stage of completing environmental and other studies. Once these studies are completed including environmental impact assessment, the date for public hearing will be finalised,” a senior official of APIIC told The Hindu .

The project once fully operational is expected to provide employment to 700 persons. It will have a total production capacity of four lakh kilo litres per annum with an investment of Rs.1750 crore. Phase-wise construction will be taken up.

At the time of signing MoU with the State Government almost a year ago, Chief Minister N. Chandrababu Naidu had asked Asian Paints president Jalaj Dani to complete the production schedule in two and half years instead of the proposed five.

The Government has offered slew of incentives to the project proponent after giving fast-track project status to the venture. Besides 100 per cent reimbursement of gross value added tax (VAT) and gross state goods on eligible capital investment from date of launching commercial production, the Government also doled out several other concessions.

Asian Paints zeroed in on Visakhapatnam for locating its prestigious project after the Government rolled out a red carpet to it.

Among 25 production facilities, the Visakhapatnam facility will become India’s largest manufacturing centre to cater to the needs of Eastern India.

The project is located in the vicinity of sites allotted for the Rs. 2,682-crore NTPC Pudimadaka Super Thermal Power Plant, AP Special Economic Zone, Brandix India Apparel City and the Rs.120-crore calcium aluminate binder unit of Keornos India.

The project once fully operational is expected to provide employment to

700 persons

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Printable version | Jul 4, 2022 6:44:10 am |