Hyderabad, August 25: City-based Techno Paints announced that it is setting up a new manufacturing plant for super-premium paints near Hyderabad in collaboration with an Italian company. It will invest Rs 75 crore in the new facility. The company, which offers high-quality painting services apart from manufacturing and selling high-quality paints, is gearing up to celebrate its 20th anniversary on August 25. Coming up at Cheryal near Patancheru on the Hyderabad outskirts, the fully-automated new plant, the sixth one for the company, will have a total annual capacity of 2 lakh metric tonnes with phase one accounting for 1.5 lakh MT. It will set up 50,000 MT in the 2nd phase. .
The company will raise funds for the plant from banks and also through private equity from reputed funding companies.
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