Asian Paints to invest Rs 4,000 crore in Karnataka

Asian Paints Ltd is investing around Rs 4,000 Crore on setting up two manufacturing plants in Karnataka and Andhra Pradesh, although it has cautioned that demand conditions in the current fiscal "still remain uncertain" on account of the global economic situation. The company has completed the land procurement process in both the states during the last fiscal and has taken possession of the identified land. It would be investing in phases at both these facilities to enable it to service the future demand adequately.