Will fix PCBL's new plant site in Sept-Oct: Sanjiv Goenka
Kolkata: Phillips Carbon Black Limited (PCBL) is yet to fix the location for setting up a greenfield carbon black plant.
PCBL has a plan to set up the plant in any of the three states -- Tamil Nadu, Andhra Pradesh and Telangana. The final call will be taken in September this year. The company had an initial plan to set up a 1.5 lakh tonne capacity carbon black greenfield plant at Ennore in Tamil Nadu.
Due to anti Sterlite protest in the state, the company is further looking into possible location which could even shift to Telangana or Andhra Pradesh, Chairman Sanjiv Goenka said on Friday.
"We will finalize the location of the plant in September or October. A dialogue is on with the Andhra Pradesh and Telangana government as well. The governments in both the states are very proactive. We are looking at a operation which could be done in a sustained basis," Goenka maintained.
According to the estimate the plant would cost around Rs 600 crore. As there was some delay the cost may further go up. The company had acquired a piece of land measuring around 30 acre in Tamil Nadu for setting up the plant. But following anti sterlite protest in Tuticorin, the PCBL is reconsidering its decision whether to construct the plant in Tamil Nadu or to shift it anywhere in Telangana or Andhra Pradesh.
After the Board Meeting, Chairman Goenka told the media that the 56,000 tonne capacity expansion at Mundra in Gujarat made steady progress during the year and is expected to be complete by third quarter of Financial Year 2019. The 32,000 tonne capacity expansion at Palej in Gujarat is progressing satisfactorily and is expected to be complete by second quarter of 2020. Combined estimated investment is Rs 450 crore. According to a press statement issued by the PCBL, the company's sales are up by 22 per cent, PBT up by 107 per cent and PAT up by 103 per cent.