Berger Paints Ltd is searching options to pump Rs 1 billion in a greenfield plant with the aim to manufacture water-based paints.
According to the company, the investment for the proposed endeavor will be done over a period of two years.

The sources said that by mid of fiscal 2011, the commercial production would start at the plant.

In a separate release, the company has informed that the new plant will have a capacity of 100,000 kilolitres per year.

For installing the new plant, the company is searching 30 acres of land in the southern states of Tamil Nadu and Karnataka.Currently, the Kolkata-based paint company is having 7 plants, which produce 200,000 kilo litres of piant, of which 60 percent is water-based.

As per reports in media, the company is also in the process of starting a 24,000 tonnes emulsion plant in Gujarat and a 6,000-tonnes raisin plant in Goa.

During Financial Year 2009, the paint-maker increased its prices twice as the crude oil prices touched record highs.

The company expects its revenue to witness a jump by 12-13 percent in 2009/10.