When completed, the plant will have a capacity of 1m square metres of panels per annum.
UAE-based Munk Holdings says it is investing in seven manufacturing plants across throughout the world and will outlay $210 million in total.
Research company Frost & Sullivan says that the domestic ACP market in India is growing by as much as 25% year-on-year.
Indian IT companies use ACPs on the exterior fascias of their office buildings and have become ‘an emerging alternative’ for exterior emulsions in commercial construction.