3 weeks ago
The company said said it has approved an additional capital expenditure of ₹690 crore for its upcoming manufacturing facility in Dahej, Gujarat. Shares of Asian Paints Ltd ended at ₹2,338.20, up by ₹12.00, or 0.52%, on the BSE.
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Asian Paints Limited on Thursday (March 27) said it has approved an additional capital expenditure of ₹690 crore for its upcoming manufacturing facility in Dahej, Gujarat.
This raises the total project cost to ₹3,250 crore, up from the initially estimated ₹2,560 crore. The increase is attributed to pre-operative expenses and project cost escalations.
"It is now informed that the Board of Directors at its meeting held today, i.e. 27th March 2025, approved an additional capex cost of Rs 690 crores on account of pre – operative expenses and certain escalations in project costs. The aggregate project cost now stands at Rs 3,250 crores," Asian Paints said in a regulatory filing.
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The facility, being developed by Asian Paints (Polymers) Private Limited (APPPL), a wholly-owned subsidiary, will manufacture vinyl acetate ethylene emulsion (VAE), vinyl acetate monomer (VAM), and include an ethylene storage and handling unit.
The project will be funded through a mix of equity infusion by Asian Paints and external debt financing. The company will provide further updates on material developments as they arise.
Shares of Asian Paints Ltd ended at ₹2,338.20, up by ₹12, or 0.52%, on the BSE.
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(Edited by : Shoma Bhattacharjee)
