NATIONAL PAINTS PLANS Rs.500-CRORE INVESTMENT IN INDIA

NATIONAL Paints, the largest paint consortium in the Middle East with annual sales of $1 billion, is setting up shop in india.
The company having 12 factories worldwide and presence in 45 countries plans to invest Rs.500 crore in India in the next three years to establish its operations. It will open a string of factories beginning with Kerala, Chairman Salim F Sayegh said.
The Rs.50 - crore factory with a capacity to produce 120 to 150 tonne daily will be opened by state industries minister Elamaram Kareem on Saturaday. This 13th factory of the company will manufacture the entire range of paints with special focus on decorative paints and wood finishes. It is aiming at a business of Rs.100 crore from Kerala in the first year of operation.
CM Sathiadevan, CEO, National Paints Factories, India, said the company will open the next factory at Ahmedabad followed by one in Pune and Chennai. The three factories will come up in three years. The production from Chennai plant will cater to the export market in Sri Lanka, Maldives, Bangladesh and other fast eastern countries.