Hyderabad-based Techno Paints has introduced the ‘Colour Banks’ technology, which positions it at par with the paint industry leaders to offer a gamut of colours to customers.

The technology will provide 3,000 plus colours within minutes, and the App has been developed which allow for easy functioning through smartphones. Initially, the colour banks services will be available at 1,000 of the company's dealers. The firm intends to expand its dealer network to 3,000 by March, 2024.

Techno Paints is already operating in Telangana, Andhra Pradesh, Karnataka and Tamil Nadu has recently entered Madhya Pradesh and Odisha. The company is setting up three new plants with an investment of Rs 100 crore. Two of these plants are coming up at Pashamylaram and Cheriyal near Hyderabad, while the third one will be at Nadikudi in Andhra Pradesh.

All the three plants are expected to commence production in October this year. With the new plants, its annual production capacity of solvent based paints will reach 36 lakh litres, 120 lakh litres of emulsions and 42,000 tonne of putty.

Besides, the firm will open 250 experience centres by March, 2024, and showcase products in construction chemicals, wood finishes, special finishes at these centres.