Paint-maker Asian Paints has signed a Memorandum of Understanding (MoU) with the Maharashtra government to set up a Rs 735 crore mega project for manufacturing paints and intermediates. The project will be implemented within five years.
The plant will have an annual production capacity of 4 lakh tonnes and will be located at Kesurdi, in Khandala Taluka, falling under Satara district. The MoU was signed by Principal Secretary (Industries) Azeez Khan and Asian Paints Chief Executive Officer and Managing Director P M Murty in the presence of Chavan and Industries Minister Sunil Tatkare.
The project will use the latest techniques in production, packing, conveying and storage in an environmentally friendly manner, with zero discharge of effluents.