Asian Paints invests Rs 1,350 crore in Vizag
Asian Paints has so far invested Rs 1,350 crore for the expansion of its project in Visakhapatnam.
image for illustrative purpose
Visakhapatnam: Asian Paints has so far invested Rs 1,350 crore for the expansion of its project in Visakhapatnam.
It is expected to become one of the largest paint factories in the world with a capacity of 5 lakh kilo litres.
At present, the capacity is 3 lakh kilo litres. Company's Corporate Affairs Group Head Amit Kumar Singh briefed the updates to AP Industries Minister Mekapati Gowtham Reddy at Tadepalli near Vijayawada on Wednesday. Visakhapatnam plant started commercial production of phase 1 in January, 2019.
The minister was told that the company has already provided employment to 750 people in phase 1, while it has earlier committed employment of 700 in both phases.
The factory has IGBC platinum certification. Through their rainwater harvesting structures the firm meets approximately 75 per cent of its water requirement. It also installed renewable energy of 5.2 MW (solar and wind) which meets approximately 75 per cent of its electricity requirements.
The official of Asian Paints said that they had spent Rs 3 crore as part of CSR. Additionally, the plant proactively contributed Rs 3 crore to AP CM relief fund for Covid management.
The company is training about 15,000 to 17,000 painters a year in the State every year through its Mobile Colour Academy. It also trains around 75 ITI candidates every year at the Visakhapatnam plant.
