Techno Paints to Build Three New Plants
As per a report, the Hyderabad-based Techno Paints--an ISO 9001-2015 certified firm that is involved with the production and application of paints and associated products—has plans to build three new factories to make cement putty, textures, primers, and emulsions in Visakhapatnam and Chittoor (Andhra Pradesh), and Katni (Madhya Pradesh).
In the first phase, every production unit will have a 30,000 metric tonne yearly capability. The new plants will cost INR 460 million. While debt financing is being used by the business, banks are reportedly ready to give loans.
As per Akuri Srinivas Reddy, Founder of Fortune Group which owns Techno Paints, "In the first phase, each plant will have an annual capacity of 30,000 metric tonnes. We are investing INR 46 crore on the new plants".
At present, with three factories in Telangana and one in Andhra Pradesh, the company has a total yearly capacity of 2.50 lakh metric tonnes.
Techno Paints is expanding its retail network all across the country to achieve its aim of being one of the top players in the nation’s thriving painting business.
The company is working carefully to make its presence felt in the flourishing retail painting market of India. The firm has over 20 years of experience in successfully completing major corporate and governmental painting ventures.