Asian Paints plans to invest Rs.2,650 crore

Asian Paints will invest Rs.2,100 crore in Vinyl Acetate Ethylene Emulsion and Vinyl Acetate Monomer .

The investment period will be 3 years.

The company has entered into an agreement with Riddhi Siddhi Crusher & Land Transport, Fujairah, UAE and

Associated Soap Stone Distributing Company to set up a joint venture in Fujairah, United Arab Emirates.

Establishment of facility for production of vinyl acetate monomer will be based on technology contract at Kellogg Brown & Root LLC, US.

It will be a 60:40 joint venture to manufacture and export white cement and white cement clinker.

The white cement plant will be set up at Fujairah, UAE and will have a production capacity of 2.65 lakh tonnes per annum.