New water-based paint plant to be set up at Hindupur in Anantapur.
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 a paint company Managing Director Subir Bose called on 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 that the state was 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 crores, to be scaled up to more than 3 lakhs KL/MT per annum over a period of 5 years. The total investment over this period is estimated at more than Rs. 300 crores. The direct employment potential will be 400 employees by the time the project attains full capacity.
Bose said, "We are the first major company to invest in a mega project in the Rayalaseema area, and we understand that substantial interest has now been generated among various industries in and around Hindupur."
The MD said that their company has also proposed to put up a paint 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, and will generate direct employment potential for 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 crores, generating employment potential for 104 employees.
With the forming of the mega paint complex in Hindupur, the total investment will be to the tune of Rs. 350 crores. The MD said that direct employment would be about 700 employees and indirect employment will be much higher.
Principal Secretary to the Chief Minister, Sam Bob, was also present.
Courtesy: INN