We refer to our earlier letters bearing reference nos. APL/SEC/32/2022-23/46, APL/SEC/32/2023-24/4 and APL/SEC/35/2023-24/7 dated 20th October 2022, 4th May 2023 and 5th July 2023, respectively, wherein we had informed you of the proposal to undertake manufacturing and exporting white cement and white cement clinker, with an initial capacity of 2,65,000 tons per annum.We further inform you that Asian White Inc. FZE has commenced commercial production at its manufacturing facility in Fujairah, UAE, effective today.
ASIANPAINT · price
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Asian Paints' subsidiary Asian White Inc. FZE has started commercial production at its white cement and clinker manufacturing facility in Fujairah, UAE. The plant has an initial capacity of 2,65,000 (265,000) tons per annum and is primarily set up for manufacturing and exports. This follows earlier announcements made in October 2022, May 2023, and July 2023 about the company's plans to enter the white cement business. The move marks Asian Paints' diversification beyond its core paints and coatings business into a new product category. Investors should note this is the first of its kind venture for Asian Paints in cement.
Opens a new export-oriented revenue stream in white cement and clinker, giving Asian Paints a foothold in a new category. The stock may see mild positive sentiment on diversification, though near-term impact on financials will be limited as the plant ramps up production.