Nippon Paint to set up units in Chennai, Gurgaon

Chennai, July 27: Nippon Paint, the Japan-based International paint major, today announced its entry into India and its plan to set up two facilities in the country, involving a total investment of Rs 160 crore.

Addressing a press conference here, Mr Satoshi Yamamoto, General Manager International Nippon Paint said, the company was happy to enter India, which he described as one of the largest and fastest growing markets in the world.

To begin with, the company would make available Nippon paints, imported from its facilities abroad, before it set up two units, in the City and Gurgaon in Haryana, in the next two years.

The capacity, in the proposed plant, could be scaled upto 40,000 tonnes, he said. The company had already identified lands in Gurgaon, he added. India would be the 16th country for Nippon to set up its facilities. It had made forays into 35 countries in Asia, Europe, Australia and America, he added.

Mr Yamamoto said the company would be introducing some of its internationally renowned interior and exterior emulsions in the city tomorrow, before moving to South India.

Mr W M Yip, Managing Director, Nippon Paint (India) Private Ltd said "beginning with the south, we will soon expand our operations across India. Though, we launch only few products in the decorative range, we will soon introduce more of our other products." Mr Ramakanth Akula, Vice President (Decoratives) Nippon Paint India Ltd said, the company had tremendous potential to grow in the country, though the per capita paint consumption was less than one kg, compared to more than 1.5 kg in the South East countries.

The size of the paint market in the country was estimated at Rs 9,000 crore, of which 70 per cent was organised. The decorative paint market was Rs 4,725 crore and it grew by about 60 per cent last year.

In rural India, there was a marked shift from limestone to distumber to emulsion paints, he observed.

UNI