Phillips Carbon Black to invest Rs300 crore to ramp capacity
Kolkata: RP Sanjiv Goenka group company Phillips Carbon Black Ltd on Thursday said it will be investing Rs300 crore to ramp up the capacity and was also evaluating a greenfield carbon black plant in south India.
“We have a capacity of 4.8 lakh tonne per annum of carbon black and now we will be investing Rs300 crore in Palej and Mundra plants of Gujarat to add another 80,000 tonne of capacity. The new capacity will be ready by FY2019,” Phillips Carbon Black chairman Sanjiv Goenka said.
A greenfield plant is being evaluated for a capacity of 1.2 lakh tonne in south India, Goenka said. “We have land in Tamil Nadu and second option is Andra Pradesh. Two factors will be key factors like location of new tyre capacity and state incentive schemes,” he said.
Goenka said currently the project is in formative stage which would get ready in the next few months and then only quantum of investment can be estimated. Though, speciality black is gaining ground but new capacity in Gujarat will be normal carbon black. Speciality carbon production can be carried out in a manufacturing facilities, the company said.
Currently, Phillips Carbon Black produces some 20,000 tonne of speciality carbon but given the high realisation the company was planning to ramp the same to 50,000 tonne over the next few years.