Indian Economy News

Berger Paints to set up a plant in Russia

  • Livemint" target="_blank">Livemint
  • February 19, 2015

New Delhi: Berger Paints India Ltd, the country’s second largest paint maker, is planning to set up an industrial coatings plant at Stavropol, an industrial area in the Russian Federation housing several automobile and manufacturing businesses.

The company said at a press conference on Wednesday that it has signed a memorandum of understanding with the Stavropol regional government in this regard. The company said it has received six hectares of land at a “very favourable price” and production is expected to start in 12 to 15 months.

“We will conduct a feasibility study for setting up modern industrial coatings in the region. Our aim is to satisfy the demands in Russia and develop bilateral co-operation,” Berger Paints chairman Kuldip Singh Dhingra said.

Berger Paints plans to begin with a small investment and increase it gradually. “We will employ 50 people with a target of 3,000 tonnes per year and then scale it up to 50,000 tonnes,” said Dhingra.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.