Haryana approves land for Asian Paints plant

Chandigarh, Jun 5 (UNI) The Haryana Investment Promotion Board has accorded its approval to provide 160 acres of land to the Asian Paints in the Industrial Model Township, Rohtak for setting up of the ''largest paint producing plant of the world.'' The decision was taken in a meeting of the Haryana Investment Promotion Board presided over by Chief Minister Bhupinder Singh Hooda here, an official spokesman said today.

Financial Commissioner and Principal Secretary (Industries) P K Chaudhary said the plant would be set up in phased manner and in the first phase more than Rs 600 crore would be invested and 1100 jobs would be available in this project.

He said that after the utilisation of full capacity the gross turnover of the plant would be Rs 4600 crore and the benefit to the state exchequer would be 40 crore annually and Rs 700 crore annual benefit would accrue to the Central Exchequer.

UNI