Berger to set up paint plant at Hindupur
Hyderabad, Sept 24 (INN): Chief Minister K Rosaiah on Friday said that the State government was keen on rapid industrialization of backward areas. The Chief Minister made this observation when the Managing Director of a paint company Subir Bose, on Friday called on Mr Rosaiah at his residence and apprised him of his plans to set up a water-based paint plant at Hindupur in Anantapur district. Welcoming the proposal, the Chief Minister said that with the setting up of the paint plant, Hindupur will grow as a major industrial center and the State is poised for further development with other paint majors showing keen interest to set up their plants here.
The MD thanked the Chief Minister for the allotment of 48 acres by the State government for the purpose and appreciated the officials for their best assistance. The capacity of the plant will be 1.5 lakh KL/MT per annum at an estimated cost of Rs 200 crore to be scaled up to more than three lakh KL/MT per annum over a period of five years. The total investment over this period is estimated at more than Rs 300 crore. The direct employment potential will be 400 employees by the time the project attains full capacity, Mr Bose said. 'We are the first major company to invest on a mega project in the Rayalaseema area and we understand that substantial interest has now been generated among various industries in and around Hindupur', he added.
The MD said that their company has also proposed to put up a paints plant by its British Paints division in Gollapuram Industrial Area near Hindupur which will have an installed capacity of 24,000 KL per annum of both water based and solvent based paints with an investment of Rs 25 crore which will generate direct employment potential of 160 employees. Similarly, it was also proposed to set up a manufacturing unit of plastic and metal containers by their group of company, Seaward Packaging Pvt. Ltd. at an investment of Rs 22 crore generating employment potential of 104 employees.
Thus with the forming of their mega paint complex in Hindupur, their total investment will be to the tune of Rs 350 crore and direct employment will be about 700 employees and indirect employment will be much higher, the Managing Director said. Principal Secretary to Chief Minister Sam Bob was also present.
News Posted: 24 September, 2010
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