Hyderabad-based Techno Paints is setting up three more plants at Visakhapatnam and Chittoor in Andhra Pradesh, and Katni in Madhya Pradesh, for manufacturing cement putty, textures, primers and emulsions.

In the first phase, each plant will have an annual capacity of 30,000 tonne, and a further investment of Rs 46 crore will be made towards the facilities over time. The funding will be through debt.

Techno Paints, which has executed major corporate and government painting projects so far, intends to expand its retail network across India. It started the manufacturing of solvent-based enamel paints in the last financial year, and is also making special textures and finishes in collaboration with Italy-based Realto Colours. Moreover, it plans to introduce colour banks technology which will ensure immediate availability of the customer's preferred colour of paint.

The Fortune Group-owned company currently has three plants in Telangana and one in Andhra Pradesh, with a cumulative annual capacity of 2.50 lakh tonne. 

India's paints and coatings market is estimated to reach Rs 62,689 crore this year, and is expected to clock seven percent CAGR during the 2023-28 period.