Kamdhenu Ispat forays into paint biz;to invest Rs 30 cr for new unit

New Delhi, Aug 14 (UNI) Homegrown steel manufacturer Kamdhenu Ispat marked its foray into the paint segment with launch of 'Colour Dreamz' range with an initial investment of Rs 30 crore in new paint manufacturing unit at Rajasthan.

''Kamdhenu Ispat has strategically invested in the paint segment with a view to harness the immense opportunity that the booming construction sector is offering,'' company Chairman and Managing Director Satish Agarwal told reporters here last evening.

The company expects to register a turnover of Rs 100 crore from the new paint division in the first year of operation and about Rs 1,000 crore in a span of three years, he added.

Colour Dreamz has been priced 10-12 per cent cheaper than the leading brands. ''This will help the company acquire a sizeable share of the Rs 20,000 crore domestic paint market,'' he said.

The new unit would have an annual capacity of about 60,000 kilo litres initially.

Colour Dreamz has a range of emulsions, enamels, distempers, textured and designer finishes, primers and ancillary products.

Among its three segments of premium, medium and economy, the water-based emulsions is the fastest growing segment accounting for 35-40 per cent of product mix contribution.

UNI RL ARB/SR HT1535