Paint Majors To Bring Further Boost In Indian Realty

August 10, 2007	(Be the first to rate this story!)  Loading ...
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New entrants in Indian real estate are the renowned paint companies which are extremely bullish on India.

The country has attracted the interests of the Japanese pain major, Nippon, which says to invest around Rs 80 crore to set up an array of manufacturing facilities in Gurgaon and a 25 acre unit in Chennai.

Indeed, the sector will see the investments from the world’s largest supplier of paints and coatings, Akzo Nobel which may acquire ICI Paints globally for $16 billion. The Dutch giant is has moved a step closer to tap Indian realty.

Akzo Nobel runs a powder coating business in India through its acquisitions of Courtaulds in July 1998. The company has also broadened its horizons into the decorative paints segment.

Lured by the glitz of booming India, another entrant is the US giant Dupont. The company supplies inputs such as Titanium Chloride to Indian paint companies. Plans are being developed but the company declined to unveil details.

Other major paint companies that are likely to foray into Indian real estate are Behr and BASF, predicts industry connoisseurs.

Interestingly, Indian paint industry is also believed to have made rapid strides in recent years. Then, there is the decoratives segment, which accounts for 70 per cent sales.

Asian Paints, largest paint manufacturer in India, is also looking forward to execute its expansion plans. It is setting up its largest facility with a capacity in excess of 1 lakh kilolitres, at Rohtak in Haryana.

News Published Under:   Real Estate India |

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