JSW group enters paints business

As part of its diversification into consumer facing businesses, JSW group is entering the paints business with an initial investment of Rs 600 crore, which swell to Rs 1,000 crore over the next 18 months. The group Thursday announced a new venture, JSW Paints, which will begin commercial operations from September and aims to clock Rs 2,000 crore of topline by FY22. The new company will manufacture and market industrial coil coatings and decorative paints at its two plants in Maharashtra and Karnataka.