Kolkata, Oct 30 RP-Sanjiv Goenka Group’s Phillips Carbon Black Ltd (PCBL) is at an “advanced stage” of finalising a site in one of the southern states for its Rs 600 crore greenfield project, Group Chairman Sanjiv Goenka said on Tuesday.
“The greenfield project will have a capacity of 1,50,000 tonnes per annum at an estimated investment of Rs 600 crore, for which site selection is at an advanced stage. A decision on the location of the project will be taken next month,” Goenka said.
The Group is negotiating with the state governments of Tamil Nadu, Andhra Pradesh and Telangana for setting up the carbon black project.
Goenka said the 50,000-tonne capacity expansion at Mundra in Gujarat is expected to be commissioned next month. The 30,000-tonne capacity expansion at Palej, also in Gujarat, is expected to be completed by the second quarter of next fiscal year starting April.
The company on Tuesday reported a whopping 113 per cent growth in its net profit to Rs 107.97 crore for the quarter ended September 30. – IANS