Bharuch: Asian Paints Ltd.’s subsidiary, Asian Paints (Polymers) Pvt., plans to set up a chemical manufacturing facility in Dahej, Gujarat, at a cost of ₹3,250 crore, as per an exchange filing on Thursday.

The facility, originally estimated to cost ₹2,560 crore, will manufacture Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) while also housing an ethylene storage and handling unit.

In its filing, the company stated, “It is now informed that the Board of Directors at its meeting held today, i.e. 27th March 2025, approved an additional capex cost of Rs. 690 crores on account of pre-operative expenses and certain escalations in project costs. The aggregate project cost now stands at Rs. 3,250 crores. The cost of the project would be funded through a combination of equity funding by the Company in APPPL and external debt financing.”

In separate filings, Asian Paints announced changes in senior management. Jigish Choksi will step down as a non-executive director on March 31, and Ashish Choksi, son of late former chairperson Ashwin Choksi, will be appointed as an additional and non-executive director from April 1, pending shareholder approval. DeshGujarat