Techno Paints to set up new facility in Hyderabad

Hyderabad: Techno Paints, a city-based paint-manufacturer, on Friday said it is setting up a new plant hereas the utilisation-levels in its existing plants have reached 100 per cent. “We will start work on our new plant soon. It will be ready for production by this December,” Akuri Srinivas Reddy, founder of Fortune Group which markets its products under the Techno Paints brand, said in a press release.

The new plant with an annual capacity of 2.5 lakh metric tonnes would come up in three acres of land at Sultanpur Industrial Estate near here at an investment of Rs 25 crore, he said.

With the new plant, the total capacity would reach 3.3 lakh tonnes per annum. The company has plans to build two more plants with 5- lakh tonne additional capacity in other states by 2025 and also has plans to go for an initial public offering (IPO) in the next five years.