The group aims to secure the second position in the decorative paints market that Asian Paints currently dominates.
On Thursday, the cement-to-textiles conglomerate launched its decorative paints brand, Birla Opus, marking its foray into the ₹80,000crore domestic decorative paints market. It is a division of flagship firm Grasim Industries, and the products will hit the market by mid-March starting with Punjab, Haryana and Tamil Nadu.
"With an investment of ₹10,000 crore, we are building six plants across India. This is 40% of the total existing industry capacity built over the last several decades," Aditya Birla Group chairman Kumar Mangalam Birla said.
"In fact, at 1,332 million litres per annum, our capacity in the very first year of operation will be greater than the combined current capacity of the second, third and fourth largest players in the industry," he added.
NO PAINT COMPANY globally has ever launched, in one shot, factories, operations, products and services at this scale, he said.
Denne historien er fra February 23, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra February 23, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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