Paint manufacturer Asian paints on Monday said it will invest Rs 300 crore in setting up a greenfield manufacturing plant at Rohtak in Haryana.
"We have acquired 130 acre of land at Rohtak and would initially invest Rs 300 crore to set up a greenfield manufacturing unit there," Asian Paints' Corporate Relations Chief Manager Rajeev Batra said on the sidelines of India Economic Summit held in the Capital.
The new plant will initially have a capacity of 1,50,000 kilo litres of paint per annum.
He said the company is also looking at doubling the capacity at the Rohtak plant in near future.
"The plant with initial plant capacity of 1.5 lakh kilo litres is likely to come up by end 2009 and we might double the capacity in near future based on the market demand."
Presently, Asian Paint has a capacity of 3 lakh kilo litres of paints per annum. The new plant would take up the capacity to 4.5 lakh litres per annum.