October 24th 2009, INDIA

Asian Paints Ltd., the India’s biggest paints manufacturer, plans to put up a plant in Rohtak in Haryana in April 2010 through a preliminary competence of 150,000 kilo litres, the top spokesperson told on Friday. The corporation will waste 3 Billion Rupees in 2009-2010 to situate a plant in Rohtak, said by P.M. Murty, the Chief Executive Officer, in an investor seminar.

The land has already been finalized by the Asian Paints intended for its seventh attractive paint plant at Maharashtra, Murty said “The construction for the plant is expected to start from mid 2010,” he said. It was identified by the company that about 135 acres land by Pune within Maharashtra is need to set up the plant “Land has been recognized and we are in a pending environment authorization,” Murty said.

He said that input prices were ‘inching above’ and could guide to boundary retrenchment. Recent boundaries were at all time lofty and not sustainable. The company has cut prices with up to 2.3% for enamel supplies in the month of July 2009. he said. The “July-September profit “of the Paint makers is doubled to 2.68 billion INR, on Thursday. Even though the decorative section continued to grow, the growth sustained to be a dare in both the industrial and automotive paints section, executive said.

Murty also said that its worldwide units got an impact by global deceleration, but South and Middle East Asian markets has performed reasonably well.  The Shares of Asian Paints has ended up 9.54 % at Rs1, 676.15 in the market of Mumbai that stopped up to 0.13 %.