Leading exterior and interior paints company, Asian Paints is looking at Andhra Pradesh for the expansion of its business. The company representatives have reached out to the AP government few days ago and explained their intention of setting up two plants in the state. These plants will come up in North Coastal Andhra Pradesh and Southern Andhra Pradesh. The company is requesting the government to allot 150 acres of land for both the plants. The company will be investing 2000 Crore in both these plants.
The company has given a detailed presentation about the details of opportunities with these plants and the direct and indirect employment it would create. Chandrababu Naidu who was busy with the relief works in Uttarandhra will meet the company representatives in couple of days and will give them the final assurance. They are also planning to sign up the Memorandum of Understanding (MOU) in the next month itself.
Interestingly Asian Paints was first planned to setup in Karnataka but Andhra Pradesh government successfully wooed it to their side. Asian Paints is a Power intensive company and there is no wonder the company is preferring a state selected for 24X7 Power Supply project. Karnataka has been raising concerns over Andhra's aggressive poaching investments with the help of tax breaks and other incentives coupled with generous support from the Centre.
