Kolkata: In excellent news for Bengal, the Aditya Birla Group (ABG) will make investments Rs 1,000 crore within the state to arrange a paint hub with the potential to generate over 600 direct and 1,500 oblique jobs.
The Kumar Mangalam Birla-led group, which lately entered the paint sector, had earlier written to CM Mamata Banerjee expressing curiosity in establishing a paint manufacturing unit within the state. Senior firm officers — group government president Sunil Bajaj and chief working officer (new tasks) Ajith Kumar Okay met — met chief secretary H Okay Dwivedi on Thursday.
The federal government in an announcement stated that the group had requested for land to arrange its facility. “This could be an ornamental paint unit with backward integration on 80 acres of land in Vidyasagar Industrial Park in Kharagpur. They might additionally arrange ancillary items there. The venture entails an funding of Rs 1,000 crore from ABG. The paint unit would offer jobs to 600 folks and oblique employment for over 1,500 folks. The plant could be commissioned in 18-24 months,” the assertion said. By the way, Kolkata was as soon as referred to as the paints capital of India with most main corporations, together with Berger Paints, ICI, Jenson & Nicholson and Shalimar Paints, having their headquarters within the metropolis.
The ABG funding in paints is more likely to be carried out by means of Grasim, whose board of administrators earlier this yr had accepted a foray into the sector at a capital expenditure of Rs 5,000 crore over the following three years.
ABG chairman Okay M Birla had earlier stated that foray into paints was a strategic portfolio selection for Grasim because it appears to be like to establish new progress engines. Grasim’s robust stability sheet will facilitate this entry, which can add dimension, scale and variety to its current portfolio.
The Kumar Mangalam Birla-led group, which lately entered the paint sector, had earlier written to CM Mamata Banerjee expressing curiosity in establishing a paint manufacturing unit within the state. Senior firm officers — group government president Sunil Bajaj and chief working officer (new tasks) Ajith Kumar Okay met — met chief secretary H Okay Dwivedi on Thursday.
The federal government in an announcement stated that the group had requested for land to arrange its facility. “This could be an ornamental paint unit with backward integration on 80 acres of land in Vidyasagar Industrial Park in Kharagpur. They might additionally arrange ancillary items there. The venture entails an funding of Rs 1,000 crore from ABG. The paint unit would offer jobs to 600 folks and oblique employment for over 1,500 folks. The plant could be commissioned in 18-24 months,” the assertion said. By the way, Kolkata was as soon as referred to as the paints capital of India with most main corporations, together with Berger Paints, ICI, Jenson & Nicholson and Shalimar Paints, having their headquarters within the metropolis.
The ABG funding in paints is more likely to be carried out by means of Grasim, whose board of administrators earlier this yr had accepted a foray into the sector at a capital expenditure of Rs 5,000 crore over the following three years.
ABG chairman Okay M Birla had earlier stated that foray into paints was a strategic portfolio selection for Grasim because it appears to be like to establish new progress engines. Grasim’s robust stability sheet will facilitate this entry, which can add dimension, scale and variety to its current portfolio.
Supply: Times of India