Phillips Carbon Black’s (PCBL) greenfield project in Tamil Nadu is expected to be commissioned by 2023. The company’s greenfield project of about 1,50,000 tonne for manufacture of various grades of carbon black and 25 MW of co-generation power over 60 acre of land is progressing strategically.
The total investment in the project is estimated to be in excess of Rs 600 crore. PCBL (Tamil Nadu), a wholly-owned subsidiary of Phillips Carbon Black has been incorporated on 29 September 2020.
The company’s additional 32,000 tonne capacity at Palej in Gujarat is expected to be commissioned by FY21. This consists of two lines, both for specialty black and also a seven MW co-generation power plant.
Apart from this, the seven MW co-generation power plant in Kochi, Kerala, is expected to be commissioned by 2021.
The company’s Sushila Goenka Innovation Centre in Belgium, Europe, has become operational.
The Phillips Carbon Black having four plants, registered a PBT of Rs 72.47 crore in Q2/FY21 from Rs 2.68 crore in Q1/FY21 and a PAT of Rs 57.55 crore in Q2/FY 21 from Rs 2.31 crore in Q1/FY21, in the backdrop of the continued global recession in the automobile industry further impacted by COVID-19.