August 20, 2017

Investing in paint manufacturing

paint manufacturing plant

Increase in per capita income through raising of the Gross Domestic Product (GDP) by annual rate of 9 percent. It is believed that the establishment of this project will contribute substantially towards the realisation of the above stated objectives. With the Nigerian population increasing at an annual rate of 3.3 percent,  more than 500,000 additional houses need to be built yearly. This calls for the production of more building materials.

In this regard, production of more paints will be needed to meet the building materials requirements of the nation.  Not only this, existing structures have to be painted on regular basis.  All these guarantee demand for paints production.

A sample of zinc oxide

A sample of zinc oxide (Photo credit: Wikipedia)

Establishment of Paints and Allied Chemicals Factory is an addition or injection of capital into the economy capital injection has a lot of multiplier effects on the economy. These include expansion in the production capacity of the economy, Income and employment generation. There is a wide application of the finished product, as the market for paints allied chemicals cuts across various users.

Availability of raw materials for the production of paints and allied chemicals is one of the attractive things in the project.  The basic raw materials are zinc oxide, zinc sulphide, calcium carbonate, synthetic resins, hydrocarbons, and a host of others Nigeria is blessed with the availability of these raw materials.

READ  MORE…

IMge: www.engineerlive.com

Leave A Comment

You must be logged in to post a comment.