Berger Paints India Ltd, the Kolkata-based paints manufacturer, has signed a memorandum of understanding with the Government of the Stavropol region, Russia, for conducting a feasibility study and establishment of an industrial coatings plant in Stavrapol.
Stavrapol, at the centre of the northern Caucasus region and in the South West corner of Russia, is an industrially developed area, with an automobile manufacturing facility and several other industries. As a part of its strategy to further grow its industrial sector,StavropolGovernmentis inviting global investors, including entrepreneurs from India, for setting up manufacturing facilities in the region.
Pursuant to the MoU, Berger Paints will conduct a feasibility study, to be completed by 2015, for setting up a modern industrial coatings plant in Stavrapol. Berger will set up the plant to cater to the demands of the industries in the region and elsewhere in Russia, based on the results of the feasibility study.
Kuldip Singh Dhingra, chairman, Berger Paints, said, "By joining hands (with the Government of the Stavropol region), we can collectively use our resources better to conduct feasibility study for setting up a modern industrial coatings in the Stavropol region. This is a step towards development of bilateral cooperation and we look forward to a successful collaboration.
Article Source: http://www.business-standard.com/content/b2b-chemicals/berger-paints-plans-to-set-up-industrial-coatings-plant-in-russia-115022000026_1.html
Publication Date: 20 February 2015