H.M. Bharuka, managing director, Kansai Nerolac, said at Chennai, on February 12, 2009, on the sidelines of the 24th Indian paint conference, which concluded at Chennai recently,the new facility would commence operations in October this year. It will manufacture decorative paints and paints for general industrial products.
The 50-acre facility will be dedicated to the manufacture of water-based paints and will have an initial capacity of 15,000 tons, and be scaled up to 75,000 tons in three phases.
“Investment in the first phase will be Rs 90 crore and will be funded through internal accruals,” Bharuka said
On the total investment for all the three phases, Bharuka said, “It will be based on the market demand.” The company will commence phase two work after 18 months from the day phase one production starts. The plant will cater to markets in Tamil Nadu, Karnataka, Andhra Pradesh, Kerala and parts of eastern India.